Market Snapshot
As of August 6, 2025, Bitcoin is trading at $114,299, with a total market capitalization of approximately $2.27 trillion. Over the past 24 hours, spot turnover across exchanges reached $35.08 billion, while the price ranged between $112,770 and $114,883. The action is characterized by low volatility and narrow intraday ranges, setting the stage for a potential breakout.
Daily Chart: Double-Top Risk Emerges
The daily chart shows Bitcoin rallying from roughly $105,130 to a peak near $123,236 before slipping back toward the $114,000 area. Volume swelled at the top, hinting at distribution, and price action has since carved lower highs that resemble a potential double-top. Key resistance sits in the $118,000–$120,000 band, while the $112,000 zone remains pivotal support; a decisive break below it could accelerate downside pressure. Near-term bias is bearish, but the broader daily trend stays neutral unless buyers recapture $118,000.
4-Hour Chart: Bear Flag Pattern
On the 4-hour timeframe, Bitcoin's momentum has deteriorated since the Aug. 1 swing high, with a slide to $111,919 followed by a modest rebound that stalled at $115,000. Selling volume continues to outweigh buying during down-moves, and price is coiling inside what looks like a bear flag. Traders are watching $115,500 for a bullish breakout confirmation; failure to hold $113,000 could invite another leg lower toward the daily support zone.
1-Hour Chart: Descending Channel
The hourly action is choppy, producing a descending channel marked by lower highs and tight ranges. Volume spikes align with red candles, underscoring sellers' control on short intervals, yet scalpers find opportunity between $113,500 and the $114,500–$114,800 resistance shelf. A bounce from channel support may offer quick upside to the upper boundary, whereas a breakdown would likely test the $112,000-area liquidity pocket identified on the higher-timeframe charts.
Oscillators: Mixed Signals
Technical indicators present a mixed picture. The Relative Strength Index (RSI) is neutral at 47, and the Stochastic oscillator sits at 31, also neutral. The Commodity Channel Index (CCI) prints -106, flashing a bullish signal, while the Average Directional Index (ADX) at 19 reflects a weak trend. The Awesome oscillator shows -1,839, indicating neutral momentum, but the momentum indicator itself is at -5,171, signaling sell pressure. The Moving Average Convergence Divergence (MACD) level of 62 likewise points to a bearish bias.
Moving Averages: Short-Term Resistance vs. Long-Term Support
Moving-average breadth highlights the tug-of-war between short- and long-term players. The exponential moving average (EMA) and simple moving average (SMA) for 10, 20 and 30 periods—clustered between $115,009 and $116,801—hover above spot price, reinforcing short-term resistance. Conversely, the EMA 50 at $113,110 and SMA 50 at $112,645 have flipped to bullish signals, and deeper support is buttressed by the EMA 100 at $108,278, SMA 100 at $108,370, EMA 200 at $101,017 and SMA 200 at $99,456. This stacked structure suggests that while bears hold the near-term initiative, the longer-term uptrend remains structurally intact.
Bull Verdict
If Bitcoin can reclaim the $115,500–$118,000 resistance zone on strong volume, it could trigger a momentum shift that reopens the path toward $120,000 and potentially retests the $123,236 high. Support from the 50-period EMAs and SMAs strengthens the case for bulls, especially with the longer-term trend structure still favoring upside continuation.
Bear Verdict
Failure to hold the $113,000 support area could accelerate a decline toward the $112,000 daily support zone, with further risk of sliding toward the $108,000 level if selling pressure intensifies. The current bear flag on Bitcoin's 4-hour chart, coupled with several short-term moving averages acting as overhead resistance, tilts the immediate bias toward sellers.