Key Takeaways
- Bitcoin traded between $63,800 to $64,094 on Thursday, within a $63,800 to $65,501 range, per market data.
- The MACD reads 94, a bullish signal, while 6 moving averages past 50 days show bearish signals.
- A daily close above $65,500 or a drop below $63,800 will likely set bitcoin’s next directional move.
1-Hour Chart Shows Weak, Indecisive Trading
The 1-hour chart shows the weakest structure of the three timeframes covered. Bitcoin sold off sharply to roughly $63,832 before staging only a modest bounce, and the candles that followed came in small-bodied, a sign of indecision rather than aggressive buying.
Trading volume faded after the initial decline, suggesting both buyers and sellers are waiting for a clearer signal.
A break above $64,300 to $64,500 would mark the first indication that buyers are regaining short-term momentum.
4-Hour Chart Consolidates After Local High
On the 4-hour chart, bitcoin has shifted into a consolidation phase after printing a local high near $65,518. Since then, price has produced a pattern of lower highs and lower lows, though selling pressure has eased without buyers regaining full control.
A decisive move back above $64,600 to $64,800 would improve the near-term outlook. Losing the $63,800 level would likely open the door to another test of the $63,000 to $62,500 zone.
Daily Chart Structure Stays Bullish Despite Pullback
The daily chart still favors buyers overall, with a series of higher lows tracing back to the $57,735 low. Bitcoin was rejected near $65,000 to $67,250, creating a lower high relative to its recent peak, though the pullback that followed reflects profit-taking rather than panic selling, with volume that has not expanded sharply on the decline.
Support sits at $63,800 to $64,000, backed by a stronger demand zone at $62,500 to $63,000 and major structural support at $61,000.
Oscillators Send Mixed Signals With MACD Standing Out
Oscillator readings for BTC/USD point to a neutral overall reading, with two indicators signaling bearishness, eight neutral, and one on a bullish signal. The relative strength index ( RSI) sits at 52, the Stochastic oscillator reads 84, the commodity channel index (CCI) stands at 84, and the average directional index (ADX) measures 23, all in neutral territory.
The Awesome oscillator (AO) reads 1,207, also neutral, while the momentum indicator at 78 is flagged as bearish. The moving average convergence divergence ( MACD) level reading of 94 is the lone bullish signal among the group.
Moving Averages Split Between Short and Long-Term Bias
Moving averages (MAs) tell a more divided story, leaning neutral to bullish on shorter timeframes but bearish on longer ones. The 10-day, 20-day, and 30-day exponential moving averages (EMA) and simple moving averages (SMA) all register positive signals, with the 10-day EMA at $63,673 and the 10-day SMA at $63,639.
Further out, the picture shifts: the 50-day EMA at $65,053, the 100-day EMA at $68,382, the 100-day SMA at $70,517, the 200-day EMA at $74,400, and the 200-day SMA at $73,398 all sit above the current price and register negative signals, reflecting the broader pullback from higher levels.
Bull Verdict:
Bitcoin’s daily structure still favors buyers, with a string of higher lows stretching back to the $57,735 low and a bullish score of 7.5 out of 10 on that timeframe. Short-term moving averages, including the 10-day, 20-day, and 30-day exponential moving averages (EMA) and simple moving averages (SMA), all sit on bullish signals, and the MACD level reading of 94 backs that up. Holding $63,800 to $64,000 support keeps the broader uptrend intact, with a close above $65,500 opening the path toward $67,250.
Bear Verdict:
The shorter timeframes tell a weaker story. The 1-hour chart scores just 4.5 out of 10, with a sharp selloff to $63,832 followed by only a modest, low-conviction bounce. The momentum indicator at 78 is flagged sell, and the picture worsens further out, with the 50-day, 100-day, and 200-day EMAs and SMAs all sitting above the current price on sell signals. A break below $63,800 would likely send bitcoin toward the $63,000 to $62,500 zone, with $61,000 as the next major structural support if selling accelerates.
