We have seen 4 steep rises since july 1 from 5800 to 6800. It was our cute manipulator obviously. He rised price and after 10 days price dropped from 6800 to 6300 , everybody wonders why but it was a profit realisation. He sold whatever he collected and gained profit. We have seen similar moves at last months but all that minor trend's bottoms finished lower then previous bottom, so last intermediate trend was bearish before july. What we see on this 10 day minor trend is different, new bottom 6300 is higher than previous bottom 5800. If we assume this cute guy sold all his btcs he has fiat now and can start his steep rises in a few days. So we can expect a bullish intermediate trend is borning.
Nice price analysis and pointing out that bottom but checking out the price today? You will surely said price is very unpredictable which is totally true. I do even believe we are heading again on 5800+ price floor once again if this price decrease would gradually continue.Out for those price range or movement we can able to utilize or make shortings and profiting on a short period of time yet volatility would really be just enough to make such profits.