Will this signal the bottom or new downtrend?

Everyone seems to have flipped bearish at this point, and for good reason.

Bitcoin is 30% off the highs and it's showing no signs of reversing.

Now we have a deathcross loading:

(Source: https://x.com/crypto_goos/status/1906349947211145410/photo/1)

Sometimes these mark the bottom or they mark the beginning of a new downtrend.

Which will this be?