If there’s one name in the crypto market that can move hearts, minds, and money, it’s Bitcoin. And today’s BTC chart is writing a new chapter in that story. Bitcoin’s price fluctuated between $83,864 and $84,135 throughout the day, and its market cap still stands strong at $1.67 trillion. But the picture emerging on the chart is giving crypto traders both a bit of anxiety and a bit of hope.
Bitcoin Daily Chart: The Fall Is Deep, the Bounce Is Weak
The daily chart clearly shows that Bitcoin is currently in a classic downtrend. The price fell from a peak of $116,381 directly to $80,53,7 and notably, there was no strong bounce during this entire decline. This is the same pattern that often appears during large distribution phases.
Candlesticks with small bodies indicate that the market is currently undecided. Buyers are not forthcoming, and sellers are suppressing the price on every small bounce. If Bitcoin wants to rebound, it must reclaim the $87,000–$90,000 range strongly, but this target currently appears far away.
4-Hour Chart: Bounce, but not reliable
On the 4-hour timeframe, Bitcoin has bounced slightly from a low of $80,537 and is attempting to hold at $84,000–$85,000.
- But the problem is that this bounce is occurring with weak volume. This pattern often indicates a Bear Flag.
- If Bitcoin breaks below $83,000 with strong volume, consider the next leg down almost confirmed.
- Conversely, if BTC crosses $86,000 with strong green candles, that’s when the picture could change.
1-Hour Chart: Mild Hope, But Not Strong
The 1-hour chart shows a slight bullish divergence. Prices are trading sideways between $83,500–$84,000, and green volume has increased slightly.
But the major hurdle remains at $85,000.
If this level is broken, short-term scalpers may rejoice, but this will only be a short-term setup.
Indicators are screaming, “The market is oversold, but uncertain!”
The RSI is at 23, the Stochastic is at 11, and the CCI is at 148, meaning the market is deeply oversold, but the direction is still unclear.
The MACD is also in heavy negative territory.
And most importantly, all short and long moving averages are pushing Bitcoin down.
BTC is currently below its 10-EMA and 200-SMA, a clear sign that bears are in control and bulls are currently weak.
Bull Verdic: A Glimmer of Hope
If Bitcoin reclaims the $87,000–$90,000 range and delivers a strong close above $85,000, the market could begin a structural recovery. Oversold indicators may provide some relief, but the condition is that buyers return with volume.
Bear Verdict: The trend is still pointing down
As long as Bitcoin is below all moving averages and the market is making lower highs and lower lows, bears will remain in control. If BTC fails to hold above $86,000, further decline is possible.
Bitcoin Analysis
Q1. Is now the right time to buy Bitcoin?
If you’re a short-term trader, the risk is higher. Long-term investors can do DCA.
Q2. Can BTC drop below $80,000?
Yes, it’s possible if the $83,000 support is broken.
Q3. What level must Bitcoin cross to recover?
At least $86,000 and ideally the $87,000–$90,000 zone.
Disclaimer: This article is written for educational and informational purposes only. The information provided herein is not financial advice. The crypto market is highly volatile, so please do your own research or seek professional advice before making any investments.
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