Satoshi

Bitcoin

Show

when

Coin

<p>Bitcoin’s performance indicates a potential continued downturn, according to Alan Santana’s <a href="https://www.tradingview.com/chart/BTCUSDT/kXL0xRXN-Bitcoin-Straight-Down-Market-Psychology/" target="_blank" rel="noopener noreferrer nofollow">analysis </a>on TradingView. Santana points to several key factors indicating a potential continuation of the downward trend for BTC.</p>
<h2 class="wp-block-heading" id="strong-why-bitcoin-s-price-slump-might-continue-strong"><strong>Why Bitcoin’s Price Slump Might Continue</strong></h2>
<p>Santana emphasizes the importance of market psychology in predicting Bitcoin’s price movements. He notes that the current market sentiment lacks fear or panic, which typically accompanies market bottoms.&nbsp;</p>
<p>This absence of negative emotions suggests that further price declines may be on the horizon.</p>
<p><em>“While Bitcoin produced a small drop, there is no fear, no surprise —nothing,</em>” Santana observes. He adds that this calm reaction from investors might indicate that the correction is not yet complete.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfMrzkT_0i3_XnmeOwDems_008CoXgU7Cp0xCfn_JQqNhXs8gNrWm5tDgbwmvrSrRGJfvj_eMe6z55KA9yZrz9j42_DrugCyTznqvBVXwXCaaW1qhLLOdLeT8V9gO76Vlybf7xTpNgqE-Z_wljJ_wes3U6-?key=0ry5NyKIL8h1kajpc7xmOA" alt="">
</figure>
<p>The analyst highlights the lack of volume during recent price bounces. This minimal trading activity indicates that bulls are not prepared to join the market aggressively. As a result, a substantial recovery seems improbable soon.</p>
<p>Santana explains, <em>“The lack of volume on the bounce indicates that the bulls are not ready to play.” </em>This observation further supports his bearish outlook for Bitcoin’s price.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/polkadots-on-chain-metrics-grow-dot-price-pumps/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Polkadot’s On-Chain Metrics Grow, DOT Price Pumps</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-new-investors-and-market-cycles-strong"><strong>New Investors and Market Cycles</strong></h2>
<p>A crucial factor in Santana’s analysis is the influx of new crypto investors over the past 18 months. He estimates that millions of people have joined the market during this period, experiencing only the upside of Bitcoin’s price movements.</p>
<p>These newcomers have yet to encounter a major market downturn. Santana draws parallels to previous market cycles, suggesting that new generations of traders often face similar challenges.</p>
<p><em>“Just as we all went through a crash after seeing massive growth and expecting forever more when we started to trade, something similar tends to happen to every new ‘generation’ of traders/participants,”</em> Santana explains.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-btc-s-warning-signs-and-price-predictions-strong"><strong>BTC’s Warning Signs and Price Predictions</strong></h2>
<p>Santana’s analysis serves as a cautionary note to investors. He notes that Bitcoin’s price has fallen from its March high of $74K to its current level of $58K. Despite the dip, many investors remain bullish, which Santana interprets as a possible warning sign.</p>
<p>The analyst predicts that a true market bottom will be accompanied by widespread fear and panic. He suggests that the optimal time to buy will be when sentiment turns extremely negative.</p>
<p>While Santana’s analysis paints a bearish short-term outlook for Bitcoin, he maintains a long-term positive view. He believes that growth will resume after the current correction reaches its bottom.</p>
<p>However, he advises investors to be prepared for potential further price declines before a sustainable recovery begins.</p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-price-correction-might-not-be-over-heres-why/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Correction Might Not Be Over: Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Price Correction Might Not Be Over: Here’s Why

Table of Contents

CaptainAltcoin

Other articles published on Jul 7, 2024

North Carolina Governor Roy Cooper vetoes a bill banning CBDCs

BlockDAG Chases $5M Daily Dream in Presale, While MKR Soars & VeChain Pioneers Sustainability

BlockDAG X Series Mining Rigs Witness Record $3.6M Sales In July; Insights on Makers’ Value, & Ve...

Sandbox Crypto and Gnosis Fail to Maintain their Market, Qubetics Whitelist Challenges for the To...

Shiba Inu Faces Potential 45% Drop – What’s Next?

House to revisit crypto regulation bill vetoed by Biden

Join our free newsletter for daily crypto updates!