Greeks.Live: Market Divided on Whether Bear Market Has Begun, Overall Sentiment Remains Bearish on Short-Term Trends
BlockBeats News, August 20 — Greeks.Live released its daily market briefing, stating that overall market sentiment remains bearish in the short term. Most traders are focused on the $110,000 to $108,000 support range, believing the price may test these lows. There is disagreement in the market over whether a bear market has begun, with some community members suggesting that continued declines next Monday would confirm the onset of a bear market.
The period from mid-September to October is seen as a potential window for a rebound, with expectations that interest rate cuts could trigger a market turnaround. From a technical perspective, BTC’s weekly MACD faces the risk of a bearish crossover, similar to the market conditions in December last year, and the adjustment cycle is expected to last about a month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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