Cryptocurrency markets are trading lower as profit-taking continues to weigh on sentiment.
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Trader Notes: IntoTheCryptoverse founder Benjamin Cowen predicts Bitcoin is likely to retest its bull market support band in September, consistent with historical post-halving corrections.
CryptoQuant data shows Bitcoin's weakness around 480 days after the halving mirrors prior cycles, suggesting the current dip could last another 2–4 weeks before momentum shifts higher, potentially accelerating toward new highs by Day 510.
Crypto industry expert Quinten Francois noted it's hard to be bearish when Bitcoin is turning an 8-year resistance into support, reinforcing the long-term bullish case.
Rekt Capital highlighted Bitcoin's dip below $114,000, stressing a daily close under this level followed by resistance confirmation as key for a confirmed breakdown.
Roman Trading added that while the uptrend from April 8 has broken, a downtrend is not confirmed unless $112,000 support is lost.
He also noted declining volume suggests the move may lack conviction, with horizontal support outweighing diagonal support for now.
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