Even though BTCUSD gradually dropped to $7,700, there is still a pretty good chance of going over $8,000.
The prevailing number of long positions over shorts on BitMEX and Bitfinex confirms such a scenario.
Bitcoin keeps trading sideways since June 4, and the community is expecting for a sharp move, whether up or down. Although the trading volume is near its local minimum, BTC/USD might retest the resistance at $8,000.
Bears are unlikely to push the price deeper, as the market has already seen 2 recent corrections earlier. Furthermore, the MACD indicator is looking upwards, confirming our statements.