The situation is very clear using a longer time frame like the weekly one.
Since the June top at 32$ every weekly bar have had a lower high, the bounce from the recent 5.74$ low has completed and now we are resuming the downtrend. A first important step for a weekly reversal to the upside will be to do not break the recent low with an higher low maybe around 6.50$, from there it is necessary to break above the 12$ resistance; without all of this it is impossible to avoid a new low under 5.74$
The inverse RSI fisher transform is oversold for 5 weeks now (it has never happened before) confirming the downtrend . For all the long term investors i hope that the slide will stabilize over 5.5$-6$ during september but the BTC/USD needs a new wave of fresh investors otherwise this downtrend will never stop (eventually it will slow down) due to miners that needs to sell bitcoins to pay back mining costs.