Happycoin.club - Bitcoin spent the first day of 2025 fluctuating between $92,800 and $94,900, recording a market capitalization of $1.86 trillion and a daily trading volume of $29 billion.
On January 1, the hourly chart showed a mixed picture with the Relative Strength Index (RSI) at 45 hinting at neutral moves, while the Momentum Indicator at -1,122 hinted at indecision. The Moving Average Convergence Divergence (MACD) at -808 favoured sellers, while the 10- and 20-period Exponential Moving Averages (EMA) also indicated bearish sentiment.
The hourly chart of BTC/USD on Bitstamp on the first day of 2025.
On the 4-hour chart, Bitcoin is facing a wall around $95,000, where sellers are ready to act. The thesis of a lull is supported by a declining Average Directional Index (ADX) at 26. The Stochastic Oscillator at 15 lights up positively, but the Commodity Channel Index (CCI) at -85 and the Awesome Oscillator at -4,076 behave neutrally, indicating uncertainty in the market.
4-hour BTC/USD on Bitstamp on January 1, 2025.
The analysis of the daily chart paints a picture of decline for Bitcoin, with strong support between $91,000–92,000 and resistance in the range of $96,000–98,000. The Simple Moving Average (SMA) and Exponential Moving Averages for 10, 20, and 30 days are giving bearish signals, highlighting the downward trend. The price range is narrowing, and trading volumes are decreasing, signaling caution during a consolidation period without any clear signs of reversal.
Hourly chart of BTC/USD on Bitstamp on January 1, 2025.
Longer-term moving averages, such as the 100-day EMA at $85,638 and the 200-day EMA at $76,344, still indicate a bullish development despite the recent decline.