On the daily chart, bitcoin has rebounded sharply from the $112,000 level after correcting from its $123,236 peak, following a prior rally from the $107,300 zone. Price action shows sideways movement indicative of consolidation, with volume momentum lighter than during the initial bounce. The daily bias remains neutral-to-bullish as long as the $114,000 support holds, but a decisive move above $120,000 could reassert bullish dominance. Conversely, a drop below $114,000 risks triggering another leg lower toward prior support levels.

Bitcoin Price Watch: Tight Trading Zone Suggests Volatility Spike Incoming

BTC/USD 1-day chart via Bitstamp on Aug. 8, 2025.

The 4-hour bitcoin chart reveals a steady climb from $111,919 to $117,675, with intermittent pullbacks that have not disrupted the broader uptrend. Price is consolidating near recent highs, and while volume has tapered, no significant selling pressure has emerged. Key support lies in the $116,000–$116,500 range, which could serve as a springboard for renewed gains if defended. A break below this level, however, could pave the way for a slide toward $114,500.

Bull Verdict:

If bitcoin maintains support above $114,000–$115,000 and breaks decisively above $118,000 with rising volume, the path toward $120,000 and potentially higher remains open. Strong alignment in most moving averages underpins a bullish continuation scenario, with dips likely to attract buyers in the current macro uptrend.

Bear Verdict:

A sustained breakdown below $116,000 — and especially under $114,000 — would shift the short-term bias bearish, opening the door to a retracement toward $112,000 or lower. Mixed oscillator readings, coupled with weakening momentum and MACD sell signals, suggest that bulls could lose control if key supports fail.