Bitcoin is in the process of forming a double bottom which can indicate a bullish momentum, the double bottom chart pattern happens to be forming just under a respected trendline this could potentially be a reason to open a position after a breakout and a retest of course.
but if bitcoin continues to remain bearish I would expect it to break the trendline below on a daily/weekly closing basis in order to get a further pushdown.
but if bitcoin continues to remain bearish I would expect it to break the trendline below on a daily/weekly closing basis in order to get a further pushdown.