The market is now divided into two factions, with opposing views——
🐻 Bearish Camp
Focusing on the weekly structure of BTC, especially referring to the weekly divergence pattern at the top in 2021, they believe the current position is close to historical highs, and the next likely event is the start of a bear market.
🐂 Bullish Camp
Focusing on the macro environment, they believe that the Fed is likely to cut interest rates in September, which will release liquidity. The market in August-September is expected to take off completely, with both funds and sentiment fueling a potential unimaginable bull run.
My personal judgment:
The bull market is not over, especially since ETH has not yet broken its historical high.
But a correction is unavoidable—likely a phase of correction from the end of August to September, which will cool the market a bit and clean up some positions.
Which camp are you in?
Share your reasons in the comments below👇👇👇
