Technically speaking, Bitcoin is in down trend. Technically only. Because chart can be manipulated and down trend is a preparation for future uptrend.
Charts are only 50-50 correct/incorrect. The real movements will only be seen when the time comes and not before that, otherwise every analyst would have been a millionaire. A deep downtrend can drive the market even lower so we cant comment absolutely but relatively only.
And they are only as correct or incorrect as the guy who builds them. The problem people forget about charts is that most people build them to prove what they think they want to see, not the other way around of building a chart and then studying it for clues about what should happen next.
And these are clues at the most, not even firm signals.