NewsBTC

15 August 2025

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Bitcoin Price Drops Below $120,000 After Reaching $124,000 High

Bitcoin is experiencing a correction after reaching an all-time high near $124,000. Currently, it is consolidating below $120,000.

• Price has dropped below $122,000 and the 100-hourly Simple Moving Average.
• A bearish trend line has formed with significant support at $120,000.
• The price dipped to around $117,250 before a minor recovery.
• Immediate resistance is at $119,000, followed by key levels at $120,000 and $120,500.
• Failure to break above $120,000 may lead to further declines.
• Major support levels are at $117,250, $116,500, and $113,500.

Technical indicators show the MACD losing momentum in the bullish zone and an RSI below 50. A close above $120,500 could target $121,650 or higher. Conversely, falling below $117,250 may push prices down further.