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Greeks.Live: Market Divided on Whether to Enter Bear Market, Overall Sentiment Still Leans Bearish on Short-Term Trend
BlockBeats News, August 20th, Greeks.Live released the daily market brief, indicating that the overall market sentiment still leans towards bearish short-term trends. Most traders are focusing on the $110,000 to $108,000 support range, believing that this low might be reached. There is a divergence in the market regarding whether we are entering a bear market, with some community members believing that if the price continues to drop next Monday, it will confirm the arrival of a bear market.
Mid-September to October is seen as a potential rebound window, with expectations that a rate cut policy could bring about a market turnaround. From a technical perspective, the BTC weekly MACD is facing the risk of a bearish crossover, similar to the market situation in December last year, with the adjustment period expected to be around one month.
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