Bitcoin Price Watch – August 6, 2025
Current Price: $114,930 | Market Cap: $2.28 Trillion | 24h Volume: $34.71 Billion
As Bitcoin enters the first week of August 2025, market sentiment is beginning to shift after a powerful July rally that saw the leading cryptocurrency soar from $105,130 to a peak of $123,236—a 17% gain. Now consolidating around the $114,930 level, Bitcoin is showing signs of exhaustion, with chart patterns hinting at a potential shift in direction.
Consolidation After Rally: Market Awaits Next Catalyst
On the daily chart, Bitcoin remains in a corrective consolidation phase. Price action since early August has been marked by sideways movement with a slight downward bias. Traders are navigating the aftermath of July’s bullish breakout, and the lack of immediate follow-through has created a cautious atmosphere.
Key daily support is seen at $112,000, with stronger structural support down at $108,000. Resistance sits firmly between $116,500 and $118,000, a zone that Bitcoin must decisively break through—with strong volume—to revive short-term bullish momentum.
Until then, the market leans neutral to bearish, awaiting a catalyst to drive the next major leg.
4-Hour Chart Analysis: Bear Flag in Formation?
The 4-hour chart paints a more detailed picture of this indecision. After rejecting the $118,904 level last week, BTC/USD dropped sharply to $111,919 before staging a tepid recovery. However, the bounce has lacked conviction—volume remains thin, and attempts to break above $115,000 have been repeatedly rejected.
A potential bear flag is forming—a technical pattern that typically signals continuation to the downside following a brief consolidation. If Bitcoin fails to hold the $113,000 support, it could quickly revisit $111,900, and a deeper selloff might aim for the $108,000 zone.
On the flip side, a clean breakout above $115,200—with strong accompanying volume—could flip sentiment and bring $116,500 to $117,000 into play.
1-Hour Chart: Intraday Battle Between Bulls and Bears
The one-hour timeframe reinforces the view of growing bearish pressure. Multiple rally attempts have failed to clear $115,700, while support at $114,000–$114,300 has been repeatedly tested. Volume analysis shows selling pressure consistently outweighing buying demand—another red flag for bulls.
If $114,000 breaks down, intraday targets around $113,000 come into focus. Conversely, should bulls reclaim $115,700, the door opens to a short-term push toward $116,500.
Indicator Summary: Mixed Momentum with Bearish Tilt
Technical oscillators are flashing a mixed but cautious outlook:
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RSI at 49: Neutral momentum
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Stochastic at 34: Neutral
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CCI at -105: Suggests possible rebound
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MACD at 239 and Momentum at -3,022: Bearish signals
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ADX at 19: Indicates weak trend strength
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Awesome Oscillator at -1,526: Neutral
This blend reflects an uncertain environment where neither bulls nor bears have full control—yet.
Moving Averages: Short-Term Bearish, Long-Term Bullish
A closer look at moving averages reveals a divide between short-term and long-term sentiment:
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Short-term EMAs and SMAs (10, 20, 30 periods) are above current price — indicating bearish pressure
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Longer-term EMAs and SMAs (50, 100, 200 periods) are below current price — signaling bullish trend resilience
This alignment suggests that while Bitcoin may face short-term turbulence, the broader uptrend remains intact as long as key support levels are not broken.
Bullish Outlook: Watch for a Break Above $115,700
If Bitcoin can break above $115,700 with convincing volume, it would likely mark a shift in momentum. This would open the path toward $116,500, and potentially even $118,000, where a breakout could reignite the longer-term rally and reestablish bullish dominance.
Bearish Outlook: Breakdown Below $114,000 Could Escalate Selling
Conversely, failure to hold the $114,000 support level could trigger a wave of selling. Immediate targets lie at $113,000 and $111,900, with further downside potential toward $108,000 if bearish momentum intensifies. Oscillator readings and short-term moving averages currently favor this scenario.
Conclusion: Indecision Rules as Bitcoin Waits on Breakout or Breakdown
Bitcoin’s current technical setup is a classic standoff between short-term weakness and long-term strength. With a possible bear flag forming and momentum indicators tilting slightly bearish, traders should be prepared for both outcomes.
Whether Bitcoin breaks above $115,700 or drops below $114,000 may define its direction for the rest of August. For now, caution and close monitoring of key support and resistance levels are essential.
📊 Next Update: Watch the $113,000 – $116,500 range closely. A breakout or breakdown could determine Bitcoin’s next major move.
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