A slight strengthening of bitcoin has again replaced by its weakening in the night of Friday, July 26. The coin has again started to lose the previously won position, which strengthened the influence of the cautious skeptics.
Some traders agree with those experts that allow the depreciation of the BTC to $7000-8000. At the time of publication the largest cryptocurrency was trading at $9756, its market capitalization fell to $174,023 billion.
Josh Rager @Josh_Rager Replying to @Josh_Rager
That was fast $BTC needs to hold above $9906 or there will likely lead to a retest of the $9600s
On the eve of the BTC was able to fight back and rose above $10 000. At this level, the coin was kept in all day, but the evening began weakening it.
According to the trader Josh Rager, testing the level of $9600 is possible in the case of weakening below $9906. Given the fact that bitcoin had fallen below this critical level, further loss of positions becomes more likely.
Another capturador under the name RJ_Killmex believes that in July and August we can expect a gradual depreciation of the BTC. Updated the “bottom” of the coin will be around $7000. While it is possible that bitcoin will stay above $8000, the resumption of the rally should be expected in September.
Analyst tweeted that in the first month of autumn coin could “shoot” the limit of a new spurt of bitcoin may be the around $16 000.
My $BTC macro view
Expecting a slow and choppy July + August
Uptrend continuation in September with strong moves Sep/Nov
— Zones of interest
Rushing 9K and 8K high buyers to get shaken out
Ideal entry area high 7K ~ 8K low
16K Upside target, if broken we will gun for a new ATH
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