At the end of last week Bitcoin fluctuated between $104,810 and $104,987 with a 24-hour trading volume of $18,20 billion and a total market capitalization of $2,07 trillion. Intraday price ranged from $104,492 to $105,376.
On the daily chart Bitcoin showed a noticeable recovery from the previous local bottom at $89,164, consistently setting upper lows indicating an increase in directional bias.
Although the price remains contained within the $104,000–$106,000 corridor, declining trading volumes suggest that momentum is waning. If the price breaks through the $106,000 threshold, this move could trigger a rally to $109,000. A drop below $102,000 would trigger a pullback to the $98,000 support zone.
BTC/USD daily chart on Bitstamp January 26, 2025
The 4-hour chart highlights a prolonged consolidation phase, punctuated by repeated occurrences of indecision candles such as spinning tops and dojis. Occasional spikes in volume during price swings indicate potential for significant moves.
A close above $106,000 would signal continued bullish momentum, while a drop below $104,000 could pave the way for a test of $103,000.
4-hour chart of BTC/USD on Bitstamp January 26, 2025
The hourly chart increase reflects micro-level consolidation in Bitcoin between $104,500 and $105,500, characterized by small candle bodies reflecting sluggish momentum. Intermittent volume spikes signal continued short-term trading activity.
Traders may consider entering long positions above $105,500 with targets at $106,500 or short positions below $104,000 with targets at $100,500. Stop-loss strategies are necessary to mitigate the inherent volatility.
BTC/USD Hourly Chart Bitstamp January 26, 2025
The oscillators are painting a neutral picture, with the Relative Strength Index (RSI) at 60, Stochastic at 77, Commodity Channel Index (CCI) at 80, Average Directional Index (ADX) at 13 and the Awesome Oscillator at 6311 all showing a lack of direction.
At the same time, the momentum oscillator registered at 4866 and the moving average convergence divergence (MACD) at 2208 indicate buying conditions if the momentum strengthens further.
Moving averages (MA) give a predominantly bullish outlook. Exponential moving average (EMA) and simple moving average (SMA) on key periods of 10, 20, 30, 50, 100 and 200 clearly indicate upward pressure.