As of August 9, 2025, Bitcoin is trading at $117,304 with a $2.33T market cap. In the last 24 hours, trading volume hit $31.5B, and the price stayed between $115,979 and $117,786 — a tight range that signals consolidation.
On the daily chart, BTC has bounced from support near $112,000 after peaking at $123,236. Sellers continue to appear between $118,000 and $118,500, but buying interest on dips is keeping the floor steady. A daily close above $118,500 could clear the way for $120K+, while rejection here may keep BTC locked in its range.
The 4-hour chart shows a steady uptrend since August 5, with higher highs and higher lows intact. $116,000 is key support, and consistent buying after small pullbacks suggests accumulation. A break above $118,200 could trigger fresh upside momentum.
On the 1-hour chart, BTC is moving sideways with a slight upward tilt. Support has formed between $116,800 and $117,000, but the $118K cap remains firm. Low volume shows hesitation, making scalping between support and resistance a preferred short-term play.
Indicators remain mixed. RSI at 56 and stochastic at 66 are neutral, while MACD leans bearish despite moving averages pointing to a broader bullish trend. All major EMAs and SMAs across timeframes are aligned to the upside, reinforcing the longer-term bullish bias.
Bullish view: Breaking and holding above $118,500 could open the door to $120K and higher.
Bearish view: Failing to clear resistance and dropping below $116,000 could see BTC revisit $114K.
