TechFlow news, on August 12, according to The Block, YouHodler risk manager Sergei Gorev said chart indicators suggest Bitcoin may face a new wave of selling pressure. Although there are signs of rebound after the recent price drop, the "death cross" formed by the 50-day and 200-day moving averages hints at further downward movement in the mid-term market.
BRN analyst Valentin Fournier noted that the decline in Bitcoin's open interest has exceeded the token's price depreciation, indicating weakening investor confidence. Market volatility is expected to persist through August and September, with Bitcoin likely to trade between $49,000 and $69,000. Analysts recommend gradually increasing investment exposure during this minor downturn.
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