Some traders believe that the price of Bitcoin is likely to fall and reach support of 11,000. If the price falls below 10,500$ and stabilizes in this range, the probability of starting a downtrend will increase. Traders often see the 11,000$ and 11,700$ levels as key points for the price of Bitcoin. From a technical point of view, if Bitcoin stays below 11,000$ for a long time, the downside can be considered high. On the other hand, stabilization in the area above 11,700$ promises a jump.
Price as of this writing made a major downtrend from $11400 it is now $10800 there's a possibility of continuous downtrend I hope your last sentence if Bitcoin stabilize in the $117000 it promises a jump is the one that will happen, this is one of those things that we are hopeful for a big jump then this things happen, you can never really sure in a highly volatile market.