Very bad news for BTC holders. BTC price is not moving upwards in August 2018. Looks like the rest of the days of August will be in downtrends for BTC price chart. The red is dominating green for all altcoins. Looks like another panic month for longtime holders.
Actually, with the prices consolidating at $6k, we could well see a short term rally coming soon, pushing prices above $7k.
But you're right for the most part. Market sentiment remains quite bearish right now, and even if there was a rally, it wouldn't last very long before the correction brings prices down to previous levels. A lot of people actually thought that August was going to be the month when prices will start recovering, because of the ETF. But to me, the ETF was never going to get approved in the short term anyways, and even if it was, it would most likely only cause temporary FOMO within the market, and no major trend reversals.
It's not necessarily a bad month. The $6k support still held up. I'm probably not as positive as some others. Even though I think that a short term rally is possible, the recovery is probably not going to happen until next year after prices bottom, which we may not have even seen yet. It's not something that is just this month.