bitcoin's downtrend stopped a while ago and we haven't really been going down for at least 2 months now. price reached the bottom at $5900ish and then went back up to current nearly $7000. how can this be a bearish market and a downtrend?
If you are looking at the market's performance this year, then we are technically still in a downtrend considering how we constantly settle lower highs and lower lows. The exact same long term downtrend is clearly visible if you open up the charts after the 2013 peak. It could either take a week or two to settle a new low, or it could be a process taking months, but lower lows are inevitable during long term downtrends. I'm not saying it will happen again in a similar fashion, but don't discard it either.
Everything that makes sense in the short term market doesn't make sense, and everything that doesn't make sense makes sense. Can you still follow it?
That's why I just look at the bigger picture.