A granular one-hour view reveals the leading cryptocurrency is clinging to a compressed range, clawing back from a momentary dip to $95,662. A nascent support zone materializes between $95,500 and $96,000 per BTC, where bargain hunters emerge. Yet overhead barriers at $98,000 and $100,185 stifle upward progress. Flurries of activity near $96,000 per bitcoin hint at tentative accumulation, though directional conviction remains elusive. Piercing $98,000 could catalyze a sprint toward six figures while faltering below $95,500 might invite a retreat to $92,000.

BTC/USD 1H chart via Bitstamp on Feb. 8, 2025.

Zooming out to a four-hour lens, bitcoin’s medium-term descent fortifies as it hovers near $96,000, rebuffed earlier at $98,500. The asset languishes beneath the pivotal $99,500 threshold—a ceiling demanding conquest for bullish aspirations. Below, the $91,530 foothold—a recent trough—beckons if bearish forces intensify. Trading patterns whisper of capital flight, with liquidations sparking abrupt downturns. A decisive vault above $98,500 becomes the linchpin for optimism while crumbling under $95,000 risks unraveling toward $92,000.

BTC/USD 4H chart via Bitstamp on Feb. 8, 2025.

The daily panorama illuminates bitcoin’s broader retreat from its $109,356 zenith, shackled by resistance spanning $100,000 to $102,000. A foundational bulwark lies at $89,164, a level etched by prior tests. Crimson-hued volume bars signal intensified liquidation activity, underscoring persistent bearishness unless buyers muster fervor to reclaim $100,000. Stymied by this psychological barrier, the market teeters on a knife’s edge, with imminent sessions poised to dictate trajectory: revival or retreat.

BTC/USD 1D chart via Bitstamp on Feb. 8, 2025.

Oscillators paint a mosaic of perspectives. The relative strength index (RSI) at 42 and Stochastic at 32 hovers in equilibrium, while the commodity channel index (CCI) at -127 tilts bearish. An average directional index (ADX) of 24 corroborates trend ambiguity. Yet caution lingers: the momentum indicator at -7,557 and MACD at -802 echo seller dominance, with the awesome oscillator’s -2,229 reading dimming hopes for enduring rallies absent a sentiment metamorphosis.

Moving averages echo a chorus of bearish sentiment. Short-term exponential and simple averages (10- to 50-period) between $98,453 and $101,288 scream negativity. Longer horizons offer faint solace: the 100-period EMA and SMA at $93,227 and $95,267, respectively, and the 200-period pair at $83,766 and $78,803, loom as distant bastions of support. Traders eye two paths: a vault above 50-period averages to rekindle optimism, or a tumble below 100-period lines, accelerating descent into deeper valleys.

Bull Verdict:

Bitcoin remains in a short to mid-term downtrend, but key support levels at $95,500 and $96,000 are holding, with longer-term moving averages providing additional strength. A breakout above $98,500, followed by a reclaim of $100,000, could shift momentum in favor of buyers, potentially targeting $102,000 and beyond. If volume accompanies this move, bitcoin may see renewed bullish sentiment and a reversal from its recent declines.

Bear Verdict:

Despite temporary support near $96,000, bitcoin remains in a broader downtrend, with strong resistance at $98,500 and $100,000 limiting upside potential. Oscillators and moving averages indicate continued selling pressure and failure to hold above $95,500 could trigger a deeper decline toward $92,000 and possibly $89,164. Without a surge in buying volume, bitcoin risks further downside in the short to mid-term.

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