Hidden Bullish opinion.
Price descending against known desirable position close to 8K usd.
Indicators on larger TF seem bullish and oversold.
RSI may allow push for "classic bottom" near or just below 8k.
Letting it fall below 8k and closing lots of shorts at once will have a strong effect to escalate BTC/USD.
Its true, alts are mooning currently. Random whitepaper tokens with good marketing are making good runs(Ex: TRX/XRP/BCH etc.) HOWEVER, do NOT get blindsided when btc wakes up. There's been much FUD and many bear traps since the top, just under 20K. Current position is still well above daily support and even being rejected by the Ichimoku cloud. Despite the garbage...
After consolidating at the top of the .716 i think it may make another run to the 1.0 fib line and if it does not break up, will further consolidate until more strength pushes it through may go much higher as the upper fib targets being move resistance/tp/bounce/btfd points.
This is pure speculation and i could be completely delusional, the formation break-down or...
Upward pressure on exchanges, expect a good squeeze in both BTC/usd and LTC/USD in the next few hours. IF you wish to withdraw your private keys before, 1 Aug. please plan on long wait times on network! To avoid inconvenience and possible losses of free BCC/USD if not withdrawn to private address in time, PLAN ACCORDINGLY. :)