Bitcoin Slips Below $78K as Short-Term Weakness Tests Support Levels

Bitcoin's recent price action has seen it dip near $77,600 as short-term weakness tests support levels. A four-hour chart suggests potential further decline if immediate support around $77,000 fails.

However, a longer-term macro view indicates that Bitcoin could resume its upward trend toward $100,000 and beyond if key breakout zones are maintained.

The near-term focus is on maintaining support levels between $74,000 and $77,000 to avoid a deeper correction.

Despite recent pullbacks, Bitcoin has gained about 23% in August, outperforming many traditional assets.