I also noticed how bitcoin has been rejecting that price and not fall below it, yet again making some push upwards but not with such a big momentum. I even saw the price goes up as high to $111000 but only touched and didn’t trade in that price for too long. The thing is that bitcoin is still now showing the right direction it’ll head in the couple of days, it is still showing some kind of weak momentum from both sides of the trend.

Hopes are still high for bitcoin to make another all time high in this new month, but I’m more skeptical about Bitcoin movement now after staying too long consolidating and the whole of last month remaining bearish for it. Even if the month of August has shown historically to be a month of bear for bitcoin, I feel the bull market is already getting saturated and we may be welcoming the bearish market soon, the longer period in the market cycle.