Huoxing Finance reports that on September 4, renowned crypto analyst Rekt Capital analyzed that Bitcoin has successfully retested the macro downtrend line as support, a level that closely aligns with the April–May 2026 highs, indicating initial validity of the retest. Rekt Capital also noted that to avoid a reversal into a downtrend, BTC must prevent a monthly close below the downtrend line (approximately $76,187); otherwise, it could form an upper wick, undermining its breakout potential.
Bitcoin successfully retests the long-term downward trend line and needs to remain above $76,187 on the monthly chart.
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Summary
Bitcoin chart analysis shows BTC has retested the long-term downward trend line as support, aligning with key highs from April–May 2026. The current price suggests the retest is holding. To maintain a bullish trend, Bitcoin must remain above $76,187 on the monthly chart. A close below this level could form an upper shadow and impede upward momentum.
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