Bitcoin charts highlights a bullish recovery from a low near $107,270, marked by higher highs and higher lows that have driven the price into a resistance zone between $116,000 and $116,500, while volume starts to decrease — a situation that could suggest a possible pause or reversal on the horizon. The current strategy indicates monitoring for a pullback within the range of $112,000 to $113,000, preferably accompanied by a bullish reversal candle, while also noting the indecision as the price nears resistance. The analysis advises caution regarding purchases at this moment, as the relative strength index seems to be nearing overbought levels, and the candlestick patterns look ambiguous.
The 4-hour perspective shows that the bitcoin price surge began from support around $110,768 and has now stalled just under a recent peak at $116,805, with momentum slowing down and volume decreasing after a prior breakout spike. Within that framework, the plan is to monitor a potential pullback into the range of $114,500 to $115,000 for a bounce, align profit-taking near $117,000, and treat a strong close above $117,000 on volume as a fresh breakout trigger. The blend of these midcycle signals illustrates a market that continues to be optimistic but is beginning to exhibit signs of weariness as it nears resistance thresholds. On the 1-hour chart, the price is tightly consolidating between $115,177 and $116,364. The tight volatility and minimal involvement indicate that a breakout could be approaching. The intraday strategy is straightforward: seek a breakout long above $116,400 with a stop placed below $116,000, or a breakdown short below $115,100 targeting the $114,600 area, while using tight stop-losses because of the limited profit margins. In conclusion, executing trades within the day continues to be a key strategy until a major shift occurs that surpasses the established range.
The relative strength index stands at 58, signaling neutrality; stochastic measures are at 91, indicating bearishness; the commodity channel index is at 156, also bearish; the average directional index shows 17, remaining neutral; and the awesome oscillator is at 1,327, reflecting neutrality. In contrast to those softer notes, momentum stands at 5,082, indicating a positive trend, while the moving average convergence/divergence level is at 386, also reflecting positivity.