BTC still in technical downtrend on the daily

Since the BTC price is on most peoples minds as far as 'have we hit the bottom?', I'll continue to review the price action in this post.

Below is the daily chart with a Heikin Ashi overlay on the candlesticks.

• The red bars indicates a continued downtrend - bearish
• The 20 day moving average crossed over the 50 dma 4 days ago - bearish
• Stochastics are over sold and are embedded to the downside (Both K and D lines are under 20) - bearish
• Price is 'printing' lower highs and lower lows - bearish
  

A 4 hour chart with downwards trend lines depicting the channel. Price bounced off of the lower trend line and is now at the 20 period moving average. If price is not able to get through this level, it may head back down to test the 9005 spike low that was seen yesterday.
If the price is able to break through the 11.5k level, the last major low of 12.5k will be the next resistance.

It's going to go one way or another, I do not see sideways action from here...

Here is the mempool size (Unconfirmed BTC transactions), the colors differentiate the transaction fees. It peaked recently on December 22nd where it took quite some time for a transaction to complete. Fees were also at an all time high...

Average transaction fee is currently $103. (Too high IMO, might as well use Paypal or Western Union....)

Last year the BTC dominance was 85% and the 'alt' marketcap was at 4.9%
BTC dominance is now at 34% and the 'alts' at 23%. Are people rolling out of BTC and purchasing the 'alts' instead?

The latest BTC news

Bottom line: IMO the chart depicts that it is still in a technical downtrend. The hourly / 4 hour charts look better as they are in a uptrend. We can only wait and watch price action over the next few days to identify a clear direction.