1HChart

Bitcoin is trading around 104,093 USDC, navigating a narrow range as buyers and sellers clash in the short-term. The money flow data on the 1-hour chart shows a slight net inflow of 16.08 BTC, with large buy orders (74.52 BTC) marginally outweighing large sell orders (70.60 BTC). This reflects a cautious optimism, but the balance is fragile. Over the past five days, the large inflows still register a net outflow of -88.44 BTC, suggesting that despite recent buying pressure, larger players have been consistently offloading.
The 24-hour inflow analysis reveals a mixed picture. A recent 240.45 BTC inflow stands out after a series of negative spikes, which could be interpreted as a sign of renewed buying interest. However, it must be viewed with caution given the broader five-day trend. Buyers have stepped in aggressively at local dips, but sellers remain active near resistance zones, with 104,995 serving as a local ceiling. The 1-hour candlestick chart illustrates this tug-of-war clearly, with successive wicks rejecting higher levels while maintaining higher lows. This forms a tentative ascending structure, but one that is vulnerable without stronger volume support.
Technical indicators lean bullish but lack strong conviction. The RSI is at 64.41, suggesting moderate bullish momentum, but not yet overheated. The Stochastic RSI is elevated at 78.04, bordering on overbought territory, which could trigger a short-term correction. The MACD, though still negative at -19.64, is showing signs of a potential bullish crossover. This aligns with the rising OBV (On-Balance Volume), indicating a slow but steady accumulation of buy pressure.
The critical level to watch remains 104,995. A clean breakout above this level with volume could propel Bitcoin toward 106,000 or even higher, but without a solid push, any attempt above is likely to be met with selling pressure. On the downside, 103,000 serves as the immediate support, with a deeper safety net around 101,500. Given the persistent selling by large holders, the risk of a rapid pullback cannot be ignored if buyers fail to maintain momentum.
In summary, Bitcoin is attempting to establish an upward trajectory but is doing so against a backdrop of profit-taking and mixed signals. Bulls have a slight edge, but their control is tenuous, relying on a break above 104,995 to confirm strength. Until then, range-bound volatility is the most probable scenario.

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