To declare the Bitcoin downtrend over, I'd like to see a genuine breakout above 25,000.
However, another positive for Bitcoin from a charting perspective is that the 50 day simple moving average is about to cross above the 200 day sma. This is referred to as a golden cross and can sometimes lead to big moves.
Technically, after such large falls as seen by Bitcoin, often assets require a longer period of base building before a sustained rally can occur. We'll have to wait to see if that's the case for Bitcoin.
