Bitcoin price stalls below $78K as ADX falls to 12

Bitcoin (BTC) was trading near $77,978 on September 1, down about 0.8% on the day and roughly 1.9% over the past week after pulling back from a local high around $81,300.

Trend indicators show weakening momentum

The 4‑hour Average Directional Index (ADX) fell to 12.26, a level that typically signals a lack of strong directional bias. Bollinger Bands on the 4‑hour chart place the price in the lower half of the channel, with the upper band at $79,062 and the lower band near $77,422.

Key support and resistance zones

Bitcoin remains above the $77,700–$77,800 area and well above the Supertrend support at $72,310. The next major resistance on the daily chart is $82,842; a close above that level would suggest a resumption of the August rally.

Liquidity clusters identified by heatmaps show sizable short positions near $81,000–$82,000 and long positions near $75,000–$77,000. A move into the upside clusters could trigger short covering, while a break below $77,422 would expose the $76,500–$77,000 liquidity zone.

Macro backdrop and ETF flows

Federal Reserve commentary at Jackson Hole raised expectations of another possible rate hike, which can pressure risk assets like Bitcoin. Spot Bitcoin ETFs recorded net outflows of about $201.8 million on August 28, ending a nine‑session inflow streak that had added over $3 billion.

Institutional buying continued, with a disclosed purchase of 4,603 BTC (≈$370 million) at an average price of $80,318 between August 24‑30, bringing the buyer’s total holdings to 845,050 BTC.

Outlook

With ADX indicating a weak trend and price hovering within a narrow range, Bitcoin is likely to continue trading sideways until it breaks either the $79,062 upper Bollinger level (potentially targeting $81,000‑$82,000) or the $77,422 lower Bollinger level (exposing the $75,000‑$77,000 support zone).