Bitcoin

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Buyers could not hold the initiative for long, and most of the coins have returned to the <a href="https://u.today/worldcoin-wld-price-analysis-for-august-5" rel="noopener noreferrer nofollow">red area</a>. 
<img alt="Top 10 coins by CoinMarketCap" data-entity-type="file" data-entity-uuid="95fb2d4a-5be5-4865-863f-fabf9e07989e" src="https://u.today/sites/default/files/inline-images/top10_583.png"> 
Top coins by&nbsp;<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
<h2 id="btc-usd">BTC/USD</h2> 
The rate of Bitcoin (BTC) has declined by 0.11% since yesterday. Over the last seven days, the price has declined by 1.06%. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="ca911a01-dc70-4aa8-a579-4c16258f0c68" src="https://u.today/sites/default/files/inline-images/btc1_121.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Despite today's drop, there is a chance to see a local rise if the rate closes above the zone of $29,000. However, if that does not happen, the correction may continue to the $28,900 area shortly. 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="1ed0ede8-1809-49cc-9168-f58aabe03142" src="https://u.today/sites/default/files/inline-images/btc2_106.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
Bears are still controlling the situation on the daily chart as the price is located near the support level at $28,842. If nothing changes, a breakout may lead to an ongoing correction to the <a href="https://u.today/binance-coin-bnb-price-analysis-for-august-5" rel="noopener noreferrer nofollow">$28,000-$28,500</a> area within the next days.&nbsp; 
<img alt="BTC/USD chart by TradingView" data-entity-type="file" data-entity-uuid="30022c43-177c-4e33-84f3-ed344b48a0b6" src="https://u.today/sites/default/files/inline-images/btc3_104.png"> 
Image by <a href="https://www.tradingview.com/symbols/BTCUSD" rel="noopener noreferrer nofollow">TradingView</a> 
On the weekly time frame, traders should pay attention to the nearest level at $28,842. If the bar closes far from it, there is a possibility to see a bounce back to the $29,600 area. 
Bitcoin is trading at $29,014 at press time.

Bitcoin (BTC) Price Analysis for August 6

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