Unfortunately, yes it is true, Bitcoin is very much still in a downtrend. As much as I don't want to see it happen (and I think everyone is thinking it), Bitcoin is in for another lower low! From what I see, and just looking at the basics, when we come out of this intermediate descending triangle, in one case BTC could make a move towards the upper downtrend line then continue to the lower low (what I don't think will happen). Or, in another case, could break down towards the lower trend line following completion of the descending triangle. Statistically speaking, the result of a triangle usually continues its previous trend.......in this case - down!
