The Libra launch presented by Facebook in June was great for cryptocurrencies, but since a lot of regulators said they was in trouble with this new cryptocurrency. The market reacted quickly in June about the Libra launch in 2020. And since the market crossed 6/7k USD barrier there were a lot of crypto enthusiasts who come back. Crypto enthusiasts run to buy more crypto and shy investors get in the market to try to surf the wave and get gain.
Last regulators concerns and Trump tweet about cryptos broke a lot of crypto enthusiasts at the beginning of they dream. But a lot chose to keep in the game.
What we can see on 8H timeframe is : On the one hand you can see a beautiful and on the other we have a divergence (which can be saw on too). A consolidation area was "created" since May for us (green zone). And Bitcoin should come back to this zone to get back in cycle. Now the fight begin, do crypto enthusiasts will survive to Regulators/Trump messages or is everything going to dump.
We think the Bitcoin could get back to the consolidation area, but it has to do it quickly (next days max). Or there were a lot of risks of dump and get back to the 7/8k $ resistance.
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