NewsBTC
18 August 2025
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Bitcoin Price Declines Below $120,000 Amid Bearish Momentum

Bitcoin is currently trading below $120,000 and showing bearish signals, with potential declines below the $115,500 zone.

  • Bitcoin has started a correction below the $120,000 mark.
  • The price is under $118,000 and the 100 hourly Simple Moving Average (SMA).
  • A key declining channel was broken, with support at $116,200 on the BTC/USD hourly chart.
  • Price may increase if it surpasses the $118,500 resistance level.

Current Price Action

After reaching an all-time high near $124,000, Bitcoin has entered a decline. It fell below the $120,000 and $118,500 support zones, testing $115,800.

Bitcoin is consolidating losses under the 23.6% Fib retracement level from the recent decline. Immediate resistance is near $116,850, followed by significant levels at $118,000 and $118,500. A close above $118,500 could lead to further gains towards $119,200 or even $120,000.

Bitcoin Price

Potential Further Losses

If Bitcoin does not rise above $118,000, it may decline further. Key support levels are:

  • Immediate: $115,800
  • First major: $115,000
  • Next: $113,500
  • Main support: $110,000

Technical indicators show the MACD gaining pace in the bearish zone, while the RSI is below 50.