We cannot remain bullish because bitcoin is a highly volatile asset. Prices can still experience correction in both the short and long term. Since November 2021 bitcoin started to experience correction till now and bitcoin has lost some of its price since ATH (-40%). This is a trend that has been going on for 3 months but there is still a possibility that this trend will continue until the decline is more than -50% from the last ATH. Besides being able to make investors and traders profit, bitcoin can also make them lose most of their investments. So it's not just about profit because if investors and traders don't have good management then they will lose a lot of money.
After looking at the current market conditions, it looks like we will still see a downtrend because the bitcoin price did not move up but stayed at the current price. Yes, bitcoin has lost some of its prices since ATH but I'm sure, sooner or later, the price hike will definitely come back and it may still take a while to go up. As long as investors and traders can manage the risk, they will survive if the downtrend continues and they will find a way to do that. Maybe now they are losing profits but some investors and traders are still trying to profit.