I would be surprised if this trend line holds to be honest. However it will surely give an decent bounce. not as high as before(12k). but if it does bounce it will likely bounce to 8,800 - 9,500 before further movement down. In bear markets weaker and weaker bounces of the trend line tend to reveal themselves. A double bottom now would not signal a cycle reversal unless we break previous high of 11,800. I think we need to hit 5,000 or 3,000 to reverse the cycle. A double bottom or higher bottom will only be temporary in my opinion. Still since we closed at 11,400 and have stayed in fiat since, we can take the opportunity of the bounce for a quick scalp if it presents itself. I expect panic in the next few days. Be prepared, dinner is being served up.
We just broke the previous low. Look for panic tomorrow and or next few days. we will watch for price action around 6700 but more liklely is a double bottom retest or break. I will keep my entries as up to date as possible. However if i am not on trading view at the time we are looking for reversal zones around 6700, 6000, 5000, 4400. The more this bear season drags out the more likely 3000 will be. Still there will be scalp opportunities on the way there. Keep an eye out on the volume on to confirm revesal. Volume should be close or above previous 6k price volume. Best of luck