Bitcoin continues to trade below a key monthly trendline, as seen in the chart below. This is one indication that the macro sentiment regarding bitcoin remains bearish.
Traders who use trendlines may want to see price break above that trendline before changing their long-term outlook to bullish. Note that a trendline break does not guarantee that price will subsequently go up. It's just one indicator that the trend may be changing.
Those who believe that bitcoin's 4-year cycles will continue to play out may be looking for a trendline break later in the year.
Read this article more on how trendlines work.
Chart shows the monthly candles for bitcoin's price. Price continues to trade below the downward-sloping black line, suggesting bearish momentum is still strong. Source: Fidelity Chart+, as of April 1, 2026. Past performance is no guarantee of future results.