Earlier in July, I anticipated higher highs in Bitcoin (BTC/USD) when the cryptocurrency appeared to be holding above $10000. However, price did NOT extend above the June high and instead found resistance at $13000. This reflected a bullish market that is exhausted and in consolidation mode.BTC/USD Daily Chart(click to enlarge)Bearish Correction: Within this consolidation mode, we saw price push to almost the $9000 mark. So, price made a lower high and then a lower low. Still, this could be just a completed ABC correction pattern, with a bullish continuation ahead.However, the recent resistance at $11000 suggests that bears are still in control within this consolidation mode. This means, we might see further downside.I think it is futile to pick the bottom. Instead of picking one spot to buy from, I have spread dry powder from $6000 to $9000. Within this strategy, I have more weight around the $6000 area. I think at this point, $6000 would be a hard support to break. Bearish Signs in the 4H Chart:(click to enlarge) The 4H chart shows a market that might be shifting into a bearish trend in the short-term. (a correction against the medium-term bullish trend over the past few months)Price has broken below the cluster of 200-, 100-, and 50-period simple moving averages (SMAs). Price also treated this cluster as resistance, which is a bearish sling-shot signal.The RSI has also held under 60 after it dipped below 30. This also reflects a market with bearish momentum.With this dynamic, I think there is a good chance price will revisit $8000.From CoinPowR