Bitcoin Technical Analysis: BTC/USD slipped lower by 5%, support below $8000 comes into play, however it may not be strong enough, after breaking the near-term supporting trend line

• Bitcoin price was trading with very minor losses on Friday, after coming under pressure in the late stages of trading on Thursday.
• BTC/USD could still be susceptible to further downside, with the support around $7800 not looking overly reliant.

BTC/USD 60-minute chart

Spot rate:                    7922.2

Relative change:        -0.2%

High:                          7999.9

Low:                            7848.0

Trend:                         Neutral/Bearish

Support 1:                  7848.0, today’s low & demand zone

Support 2:                  7687.8, consolidation area seen on 23rd July, before bull run.

Support 3:                  7603.5, (support on 60-minute chart).

Resistance 1:             8075.9, 100MA.

Resistance 2:             8135.0, 50MA.

Resistance 3:             8328.7, resisting area as seen on 24th & 25th July.