Bitcoin, the king of crypto, never fails to keep traders on their toes. As of August 4, 2025, Bitcoin’s price hovers around $116,100, consolidating after a powerful rally. Is this the calm before the storm? Let’s dive into the charts and technical indicators to map out where Bitcoin might be headed next. Current Market Snapshot Bitcoin is currently trading in a defined range between support at 114,500 and resistance at 119,760. This consolidation follows a recent peak near 123,270. The daily chart shows Bitcoin moving within an ascending channel, though momentum has slowed, prompting some caution among traders. Notably, the 24-hour trading volume sits at around 57 billion, signaling robust market activity. Key Support and Resistance Zones The primary support zone lies between 114,500 and 116,000, with a critical level at 114,785. A break below this could trigger a deeper correction toward 108,500. On the flip side, resistance levels at 119,760 and 122,000 stand in the way. A breakout above these could pave the way for a retest of the 123,200 high or even a push toward 129,584. Indicator Insights The Relative Strength Index (RSI) is currently around 60, suggesting mild bullish momentum. It’s not yet in overbought territory, leaving room for potential upside. However, a drop below 50 could signal weakening momentum. The MACD indicator also supports a bullish outlook, with the MACD line above the signal line by a margin of 1,760 units. This reflects sustained buyer strength, though declining volume could hint at fading momentum. Chart Patterns and Scenarios A recent 15-minute chart revealed a symmetrical triangle pattern, which broke upward near 119,000. Such patterns often signal bullish continuation, but volume confirmation is crucial. In a bullish scenario, a close above 119,760 could target 122,000. Conversely, a break below 114,500 might lead to a test of 108,500. Some analysts suggest Bitcoin could first sweep liquidity around 110,000 before resuming its uptrend. What to Watch For The price action around the $114,500 support is critical. If buyers defend this level, the odds of a bullish continuation increase. However, declining volume or a support break could signal a deeper pullback. Traders should also keep an eye on broader economic factors, like Federal Reserve decisions, as Bitcoin often moves in tandem with risk assets. Trading Strategy For short-term traders, buying near the 114,500 support with a stop-loss below 114,000 could be a reasonable setup, targeting 119,760. Long-term traders might wait for a confirmed breakout above 122,000 to minimize risk. In crypto’s volatile waters, risk management is non-negotiable. Wrapping Up On August 4, 2025, Bitcoin stands at a crossroads. Key support at 114,500 and resistance at 119,760 and $122,000 will shape its next move. Indicators lean slightly bullish, but caution is warranted until a clear trend emerges. Will Bitcoin surge to new highs, or is a correction looming? The market will soon reveal its hand.