Bitcoin looks set to have another go at breaking the declining before long, but even if it breaks upwards there can still be the possibility of a deeper decline as marked by the red .
Trading is still strong, and if we see a spike as strong as we did at the $6k bottom to push out of the current downward trend, then perhaps Bitcoin will have enough momentum to take the green impulse path to challenge the all time high.
I will be looking closely at the of any upward moves
Daily MACD seems to be curling up suggesting the opposite....
There will of course be minor corrections on any impulsive move up towards $9.5k.
As I mentioned, in the medium term it is possible for Bitcoin to turn around somewhere between $12k-$15k and head back down to $4k but I think that is unlikely. I will need to see the developing shape of the current upward move before I am ready to change my mind on that.
Be aware this is only my opinion.