Analyst: Bitcoin faces huge selling pressure and may fall to $7,000 before opening a new uptrend

In the past few days, Bitcoin has faced huge selling pressure and is still in an unstable state. Analysts predict that the $10,000 support level could "fall off quickly," and that recent selling pressures on the market could even cause bitcoin prices to fall to $7,000. However, some analysts also predict that this decline may trigger another wave of upward trend and prompt bitcoin prices to return to the 2019 high. Cryptney currency analyst Josh Rager said that $9,900 is the key price level that Bitcoin must maintain. Another cryptocurrency analyst, RJ, believes that the next uptrend will start in September, and short-term downside support may hit $7,000-$8,000. The upside target will then reach $16,000.