FX.co ★ Technical analysis on Bitcoin for August 7th, 2023.

Red line- support trend line

Bitcoin continues to slide lower towards the red upward sloping support trend line. Price continues making lower lows and lower highs in the near term. Price continues to slide towards the major support around $27,900. Short-term resistance is found at $30,000. A break above this level will open the way for new higher highs above the $31,000 level.