Bitcoin's price on August 9, 2025, is $117,304, with a market capitalization of $2.33 trillion. Over the past 24 hours, this cryptocurrency has recorded trading volume of $31.5 billion and has traded within a daily range from $115,979 to $117,786, reflecting a narrow range indicating the current consolidation phase.
Bitcoin
On the daily chart, Bitcoin has recovered from a recent drop after peaking near $123,236, finding notable support around $112,000. Resistance clusters between $118,000 and $118,500, where selling pressure has consistently emerged. A surge in trading volume during the sell-off indicates that declines are attracting buyers, providing stability for the price floor. Short-term momentum has shifted bullish after reclaiming the mid $117,000 level, although the asset remains confined within a broader consolidation pattern. A sustainable closing price above $118,500 could open opportunities for higher levels, but rejection in this area could keep Bitcoin trading within a range.
On the 4-hour chart, Bitcoin has maintained steady growth since August 5, when the price briefly touched $112,660. The formation of higher highs and higher lows indicates a healthy bullish structure, with $116,000 serving as a key support level. The rejection around $118,000 to $118,200 suggests that sellers are still active, but the buying momentum from price corrections has been consistent. Trading volume in this timeframe supports the accumulation thesis, and short-term sentiment remains positive unless price action decisively closes below $116,000. Traders may see opportunities to enter strategically near this support zone, aiming for short-term targets just below key resistance.
The hourly Bitcoin chart reflects a calmer environment, with BTC trading sideways but slightly tilted upwards. A recent push to $117,929 faced quick rejection, solidifying the cap at $118,000. Micro support has formed between $116,800 and $117,000, with low volume indicating market hesitancy at these levels. Price action appears bound within a narrow range, favoring short-term scalping strategies where entering at support and exiting at resistance is preferred. A confirmed breakout above $118,000 could provide the necessary momentum to push higher, while a pullback may retest lower 1-hour support zones.
Oscillators indicate a fairly neutral state. The relative strength index (RSI) stands at 56, stochastic at 66, and the commodity channel index (CCI) at 23—all neutral indicators. The average directional index (ADX) at 16 also indicates a lack of strong trend momentum. Awesome oscillator (AO) is slightly negative at -721 but has a neutral bias, while the momentum index at -538 emits a bullish signal. Notably, the moving average convergence divergence (MACD) at 411 emits a bearish signal, indicating mixed signals in short-term momentum versus trend continuation.
The moving averages (MAs) mainly support a bullish trend. The 10-period exponential moving average (EMA) is at $116,127 and the 10-period simple moving average (SMA) is at $115,144, both giving positive signals, as well as the 20-period EMA at $116,029, the 20-period SMA at $116,747, and the 30-period EMA at $115,436. Long-term indicators are similarly positive, with the 30-period SMA at $117,268, the 50-period EMA at $113,593, the 50-period SMA at $113,430, the 100-period EMA at $108,808, the 100-period SMA at $109,042, the 200-period EMA at $101,501, and the 200-period SMA at $99,669—all emitting bullish signals. This consistency across multiple time frames indicates that the broader trend remains upward, even as short-term conditions suggest consolidation.
Bullish Verdict:
The synchronization of Bitcoin's multi-timeframe moving averages, along with the consistent pattern of higher highs and higher lows on the 4-hour chart, indicates that the broader trend remains intact on the bullish side. If the resistance at $118,500 is broken and confirmed as support, momentum could accelerate towards $120,000 and beyond.
Bearish Verdict:
Despite the fundamental trend strength, persistent resistance at $118,000–$118,500 and neutral oscillators signal that the upward momentum is slowing. A break below $116,000 on higher time frames could shift momentum towards $114,000 or lower, posing a risk to recent gains.
