Minor attacks initiated by bears continue emerging on hourly chart, the market is dominated by bears as weve seen no resistance from bulls so far.
Some investors believe bull market is near the corner, but it doesnt make sense to me in logic. If price surges from here, main funds have no profits to make, as we all know, they will remain control over the market before they maximize their profits.
Volumes remain low on daily chart, indicating that even bears are not as determined as expected. Currently, price hovers around a short-term support, making it possible for price to continue oscillating move.
But if bulls remain silent and take no further actions, support will be digested and a major dip will take place after that.
Here comes the short-term conclusion, basically, price will keep oscillating, if BTC fails to surge after having been moving sideways for a long time, downtrend will be the main story.
Original by Kuang Ren, translated by AICoin Jami.
Honestly I feel like bulls will appear regardless as long as the price drops. The bulls just want to start trends so that they can buy at the lows and watch the price be impacted by the high run. Even though the price hovers at a short-term support, there is likely a point where even if the price drops, we'll see an upward trend soon after that because there are still strong supporters of the coin. We just have to wait and see how the market reacts after this stand-still area.