Decentral Block Post

When Bitcoin was trading above $60,000, the smartest analysts and financial-minded folk told investors that BTC price would never fall below its previous all time high. 

These same individuals also said $50,000 was a buy the dip opportunity, and then they said $35,000 was a generational buy opportunity. Later on, they also suggested that BTC would never fall under $20,000.

Of course, “now” is a great time to buy the dip, and one would think that buying BTC at or under $10,000 would also be the purchase of a lifetime. But by now, all the so-called “experts'' have fallen quiet and are nowhere to be seen or heard.

So, investors are left to their own devices and thoughts to contemplate whether or not the bottom is in. Should one be patient and wait for the forecast “drop to $10,000” or is now the time to buy Bitcoin and altcoins?

Generally, calling price bottoms is a futile task. What's really important to focus on is whether or not there are fundamental reasons for choosing to or not to invest in Bitcoin.

Ethereum's native token, Ether (ETH), is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June.

Much of the token's upside move is attributed to the Merge, a technical upgrade that would make Ethereum a proof-of-stake (PoS) protocol, slated for Sep. 15.

But despite logging impressive gains between June and September, Ether still trades almost 70% below its record high of around $4,950 from November 2021. Therefore, its possibility of heading lower remains on the cards.

Here are three Ethereum bearish market indicators that show why more downside is likely. 

Sell the Ethereum Merge news

Ethereum options traders anticipate Ether's price to reach $2,200 from its current $1,540 level ahead of the Merge, according to Deribit data compiled by Glassnode. Some even see the price hitting $5,000, but enthusiasm looks flat post the PoS switch.

Bitcoin (BTC) traded below $20,000 on Sep. 3 as commodities declined on news of a G7 Russian energy ban.

All down after gloomy macro week

Data from Cointelegraph Markets Pro and TradingView showed ongoing lackluster performance on BTC/USD, which traded around $19,800.

The largest cryptocurrency looked increasingly unable to flip $20,000 to firm support as the weekend began, and the mood among market participants was jaded.

Eyeing the 8-day exponential moving average (EMA), popular trader Cheds noted its strength as intraday resistance continuing into September.

United States equities closed out a troublesome week, the S&P 500 down 2.7% and Nasdaq Composite Index 3.25%, respectively.