Bitcoin Price Forecast: Four Analysts See Different Futures Amidst Hawkish Fed Decision

The Bitcoin price has been trading at $63,963 as of July 30, down 2%, amidst a hawkish Federal Reserve decision and a looming September rate hike debate. Four analysts from different firms have reached distinct conclusions about what August holds for Bitcoin.

One key bullish signal is the weekly RSI divergence indicator at 39.30. The chart shows price made a lower low in June while the RSI made a higher low, printing a bullish divergence with the signal line at 32.88. This setup appeared before each major recovery visible on the chart.

However, analyst Benjamin Cowen's base case is an August to September pullback forming the market cycle bottom in Q4 where on-chain indicators historically reset. He notes that if Bitcoin has not broken down by year-end, he calls the bull market back on.

The four analysts' views range from a worst-case outcome for this cycle to staying constructive and watching ETF flows. One analyst expects pressure to shift to the Nasdaq rather than Bitcoin, while another sees September as the real test for Bitcoin's price.