Bitcoin's rebound is basically done, and there's a high probability of continued decline next week! 1) Bulls were timid and sneaky during the U.S. stock market holiday, slowly grinding their way up to the Fibonacci retracement level of 0.786, just below $63,800. 2) Bullish momentum isn't strong. The price managed to rebound mainly because bears took a break—bearish volume is almost nonexistent. 3) The U.S. Dollar Index surged to 101, and rising interest rate expectations are putting pressure on gold and Bitcoin. Gold is already dropping, and Bitcoin is likely to continue its downward trend to find a bottom. 4) Although the U.S. and Iran signed a ceasefire agreement, it's only valid for 60 days. Israel, the troublemaker, won't sit still—they're still bombing Lebanon and acting like bullies. As a result, the official event for signing the agreement in Switzerland was canceled. The Middle East is destined to remain unstable. 5) Third time's the charm. Bitcoin has already broken below $60K twice—on February 6 and June 6—before rebounding. The rebound highs were $82,800 and $67,250, respectively, showing a significant drop in peak levels and a halving of trading volume. It's clear that bullish strength is weakening. Now, we're gearing up for the third break below $60K, and this time, it won't look as optimistic or pretty. 6) Once $60K is decisively broken, the target prices of $55K, $50K, and $45K are just a matter of time. The path downward will be bumpy—it won't be a straight freefall, nor will it be a dramatic "3,000-foot plunge, as if the iron bottom fell from the heavens." #BTC #Bitcoin #BearMarket