A couple of days ago, I had posted that there was a defining development in Bitcoin. Bitcoin was up, more than 10% with more than triple the average daily volumes. Because we had seen higher than average volumes, it was quite a defining development that sparked interest.
However, a downward sloping trendline is still something that has been haunting Bitcoin enthusiasts, fans, traders and investors alike. That has been the forebearer of bad news and a bear market for the last 3 months. The recent move with large volumes started a move designed to challenge this bear run. However since it is still to break the downward sloping trendline, the bear run has still not been reversed.