$BTC Bitcoin has just touched the 8-year trendline again, a notable sign that this could be the peak of the current bull cycle. This trendline has repeatedly defined the peaks of previous bull market cycles, and if Bitcoin cannot break through this resistance line, it is likely that the market will enter a prolonged downtrend¹.

However, there is still a chance for the uptrend to continue. If the price can decisively break through this resistance zone, the trendline will become support and open up new growth potential for BTC. Additionally, the demand for buying Bitcoin remains very strong, especially at the $114,000 level, indicating a solid underlying demand that could push prices higher as investors' cost basis continues to rise¹.

To confirm the trend reversal, experts need to observe a few other signals, including whether the weekly RSI indicator shows a bearish divergence, the trend of declining trading volume, and the appearance of further rejection wicks¹.