Bitcoin Price Analysis: BTC/USD Signaling Bearish Continuation

[nicktalman93]

Bitcoin price started a major bearish move from the $8,200 swing high against the US Dollar. BTC/USD traded below $7,640 and recoveries are likely to be capped by $7,800.

https://coingape.com/bitcoin-price-analysis-btc-usd-signaling-bearish-continuation/

[1714542963]

1714542963

[1714542963]

1714542963

[bobo012]

Bitcoin price started a major bearish move from the $8,200 swing high against the US Dollar. BTC/USD traded below $7,640 and recoveries are likely to be capped by $7,800.

https://coingape.com/bitcoin-price-analysis-btc-usd-signaling-bearish-continuation/

Well, a lot of people dont want to risk with the etf decision, they are bagging the profits early, as we had a good run up until now. I personally think that we wont have an etf approval at this time.

[socks435]

Since the bitcoin ETF proposal was rejected twice the other investors start selling their bitcoins what I heard that the next proposal date is august 10 but the other said is next 18 months so there is no assurance when will SEC release the next decision that is why the market right now is in the bearish state.
So people who bought bitcoin at the $6k level they are starting to sell to get the opportunity and make a profit before the price drop back again at $7k below. 

[BitcoinNewbie15]

Bitcoin price started a major bearish move from the $8,200 swing high against the US Dollar. BTC/USD traded below $7,640 and recoveries are likely to be capped by $7,800.

https://coingape.com/bitcoin-price-analysis-btc-usd-signaling-bearish-continuation/

Well, a lot of people dont want to risk with the etf decision, they are bagging the profits early, as we had a good run up until now. I personally think that we wont have an etf approval at this time.

We won't have any ETFs yet, but eventually, the day will come when we see an approval. I think this may be a bear trap, as long as the $7xxx range holds. If we go back to $6k I'd say chances are we may sink as low as $4k - $5k.

[davis196]

I was right in my predictions that this is a "dead cat bounce".There's mo real increase in the btc market demand.The aren't any new money entering and buying btc.Only the existing traders bought some btc,driven by the small "ETF" hype.They sold some ethereum and other altcoins to fund their purchases,that's why the ethereum price wasn't following the bitcoin trend.

[talkbitcoin]

it seems to me that there are many people who wish the bear market to continue possibly because they either missed the chance to buy cheap coins or they sold too late at the bottom and have lost a lot of money. because i don't really see any valid analysis here! it is just wishes of the author justified by something he calls analysis.