📉 Bitcoin bear market coming? Analysts are cautious about short-term trends!
🔍The Bitcoin market has been adjusting for six months, with an adjustment of about 23%. Although this drop is not too large from a historical perspective, analysts are becoming more pessimistic as the downward trend continues.
🤔 Trader Crypto Louca predicted on social media X that the price of Bitcoin may continue to fall and may fall to between $36,000 and $46,000 this year.
🐻 Analyst IncomeSharks also studied the market situation this year. They said that if the price of Bitcoin cannot stabilize in September, it may be time to abandon the current price structure. If the price falls below $50,000 again, it may rise in October; if not, a new forecast is needed. At present, the probability of the price hitting the top and bottom channels is roughly equal.
📊 Julio Moreno, head of research at CryptoQuant, believes that the decline in Bitcoin prices is only because demand has not grown. He said that all valuation indicators are in the bearish zone, and although there is usually positive growth in the fourth quarter, it also depends on the overall economy and the state of the Bitcoin market.
📈 Analyst and chart expert Peter Brandt analyzed the chart and believed that Bitcoin's chart pattern is an "inverted expanding triangle" or "megaphone". He predicted that testing the lower limit of this pattern could cause the price to fall to about $46,000.
🚀 Analyst "Rekt Capital" also observed that Bitcoin needs to rebound as soon as possible before the new weekly close to avoid further declines. Currently, the price of Bitcoin is hovering around $56,000, and market sentiment remains weak. $BTC
💬 Whose opinion do you agree with, and what do you think about the short-term trend of Bitcoin? Do you think the market will rebound or continue to fall? Leave your opinion in the comment area!
