Bitcoin (BTC) Price Prediction: BTC/USD Stalls After Rallying to $104,500, Setting the Stage for a Potential Retracement

Bitcoin is currently trading at $104,514, supported by a market capitalization of $2.07 trillion and a 24-hour trading volume of $26.48 billion. Its intraday price has fluctuated within a tight band between $103,133 and $104,841, signaling a period of short-term consolidation following a recent bullish rally.

Bitcoin (BTC) entered a period of short-term consolidation on Wednesday, with the world's largest cryptocurrency remaining in a tight intraday trading band.

What Happened: Bitcoin is currently trading at $104,114, supported by a market capitalization of $2.07 trillion and a 24-hour trading volume of $26.48 billion. Its intraday price has fluctuated between a minimum of $103,133 and a maximum of $104,841.

The hourly chart reveals that bitcoin has entered a choppy sideways range after peaking at $104,985. A sharp rejection from this level was followed by a bounce off the $103,000 support line, indicating active short-term demand. However, the decreasing volume on red candles after the breakout suggests a weakening bullish momentum.

Entry points appear viable on a confirmed breakout above $104,800, while a breach below $103,000 amid rising sell volume would be a strong exit signal. Traders should exercise caution as volume divergence is present, a noteworthy bearish indicator.

Bitcoin 1H Chart via Bitstamp

The four-hour chart shows bitcoin forming a plateau pattern after an aggressive upward movement. A significant volume spike at the peak near $104,985 was observed, followed by a tapering in trade activity, which suggests distribution rather than accumulation.

Lower highs are being formed since the peak, indicating emerging short-term bearish sentiment. The $102,500 area could be a point of interest for a potential bounce, especially if supported by increased volume.

Reclaiming $104,500 with strong follow-through would be required to reestablish a bullish stance.

Bitcoin 4H Chart via Bitstamp

On the daily chart, bitcoin shows strong uptrend characteristics with higher highs and higher lows. Support is established near the $95,000 range, which acted as a prior consolidation zone, while resistance is currently positioned around $104,985.

However, volume has been decreasing on recent green candles, which could indicate buying fatigue. A strategic entry may present itself in the $98,000 to $100,000 range if reversal confirmation emerges, such as a long wick or bullish engulfing candlestick.

If volume continues to trail, any test near the $105,000 mark could fail to hold.

Bitcoin 1D Chart via Bitstamp

Oscillator readings offer a mixed technical sentiment. The RSI stands at 75 and the CCI at 184, both issuing sell signals due to overbought conditions. Momentum is similarly bearish with a value of 7,919.

The MACD provides a positive signal with a positive divergence of 4,110. The Stochastic oscillator at 94, ADX at 36, and the awesome oscillator all show neutral stances, reflecting market indecision.

From a moving averages perspective, bitcoin remains firmly bullish across all timeframes. The 10-, 20-, 30-, 50-, 100-, and 200-period exponential moving averages (EMA) and simple moving averages (SMA) all indicate bullish signals, underscoring long-term upward strength.

These averages suggest strong underlying trend support, even amid short-term pullbacks. However, given the current divergence between price action and volume, traders are advised to prioritize confirmation signals before entering new positions. Chasing prices near all-time highs without volume support exposes traders to potential downside volatility.

Bull Verdict: Bitcoin remains structurally strong with consistent buy signals across all key moving averages, supported by a robust uptrend on the daily chart. If the price breaks above $104,800 with confirmed volume, the bullish continuation toward new highs remains intact.

Bear Verdict: Overbought oscillator conditions and decreasing volume amid rising prices suggest potential exhaustion. A failure to hold the $103,000 support could trigger a deeper retracement toward the $98,000-$100,000 range.