Bitcoin price has held around $114,656 to $115,078 in the past hour as of August 1, 2025, with a total market capitalization of $2.28 trillion and a 24-hour trading volume of $57.10 billion. The day's price ranged narrowly from $114,326 to $118,696, signaling consolidation after recent volatility.
Bitcoin
On the daily chart, Bitcoin continues to show a short-term downtrend after recently peaking around $123,236. Price volatility has dropped to the support area of $114,000–$115,000, which is now serving as a base for potential consolidation. Despite the downtrend, the decrease in selling volume suggests seller fatigue, which could pave the way for a bullish reversal. A break and close above the resistance level of $118,000 would strengthen upward trend momentum, while failure to hold above $114,000 could lead to new selling pressure.
Daily BTC/USD chart via Bitstamp on August 1, 2025.
The four-hour Bitcoin chart reveals a clear bearish market structure characterized by lower highs and lower lows. Notably, red candle volume has increased, reinforcing the current downward momentum. However, support at $114,116 has held so far. A short entry target around $117,000–$117,500 seems reasonable if the price encounters rejection, while the formation of a double bottom at $114,000 accompanied by bullish divergence would provide an attractive reason for a long position.
4-hour BTC/USD chart via Bitstamp on August 1, 2025.
On the 1-hour chart, Bitcoin is smoothly trending down, with limited upward retracements. A notable increase in volume during the most recent drop followed by a decrease in volume may suggest a potential reversal point. Currently, small candles at recent lows indicate a potential base is being built. Short-term traders might consider long positions above $114,500 if a bullish engulfing candle shows strength, or short positions below $115,000 if there is rejection. Profit targets for these trades should remain conservative, capped at 200–300 points due to intraday volatility.
1-hour BTC/USD chart via Bitstamp on August 1, 2025.
Oscillator indicators show increasing indecisiveness in the market. The Relative Strength Index (RSI) at 46, Stochastic at 28, and Commodity Channel Index (CCI) at -258—all indicate neutral sentiment. Meanwhile, the Average Directional Index (ADX) at 21 and momentum at -5.123 suggest a prevailing downtrend. The Moving Average Convergence Divergence (MACD) at 1.208 also reflects strong downward pressure.
Moving average indicators (MA) reinforce this short-term bearish outlook, with both the exponential moving average (EMA) and the simple moving average (SMA) for 10-day and 20-day all signaling negatively. However, longer-term indicators, such as the 50-day, 100-day, and 200-day EMA and SMA, continue to support the broader upward trend. The divergence between these short-term and long-term averages suggests a potential base may be forming if support levels are maintained.
Bullish Assessment:
If Bitcoin maintains above the support level of $114,000 and breaks convincingly above the resistance level of $118,000 with increasing volume, it could signal the end of the current pullback and the continuation of the broader upward trend. The convergence of long-term moving averages in the buying zone supports this scenario, providing bullish traders with a favorable risk-reward ratio for continued upward movement.
Bearish Assessment:
Despite the short-term consolidation, the overall structure on the 1-hour and 4-hour charts remains bearish, with key oscillators and short-term moving averages combining with the risk of further declines. If Bitcoin loses support at $114,000, momentum could accelerate towards the $113,000–$112,000 area, invalidating bullish setups and reinforcing the current downtrend.
