BTC Chart Alert April 8: Approaches Major Downtrend Again – Rejection or Breakout Imminent?

Bitcoin has arrived at the point where it is knocking on the door of the 6-month + downtrend line. With some good news out of the Middle East, could Bitcoin ride the improved sentiment trend and break to the upside? Do the bulls need more time to renew their strength? Or, could the bear flag still play out?