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There's no doubt we're in a downtrend,
Theres plenty of doubt while the 200 day is rising thats a disparity and its muddy water, my take is there is not trend especially its just lost the uptrend and we get some sell from lack of those previous gains and speculation must leave the price like a wet rag wrung dry. When we got the more solid base, we can see some change. I dont think we are quite set into a determined negative trend.
This is just a question of time frames. By some metrics the monthly chart is still in an uptrend, and the yearly chart is clearly bullish. The decade-long uptrend is comfortably intact.
However at the daily and weekly time frames, we are very clearly in a downtrend. Lower highs and lower lows, a declining 20-week MA, price is down 43% over 5 months, etc.
That short to mid-term bearish outlook hasn't changed yet, though I do believe we are near the bottom.
