NewsBTC

7 August 2025

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Bitcoin Price Attempts Recovery Above $114,200 Resistance Zone

Bitcoin Price Update

• Bitcoin is attempting to recover above $114,200.
• The price is consolidating and may challenge the $115,500 resistance zone.
• Support found near $112,000; recovery wave initiated above $113,500.
• Current trading price is above $114,000 and the 100 hourly SMA.
• Break above bearish trend line at $114,300 observed on the BTC/USD hourly chart.
• Immediate resistance is near $115,000; key resistance at $115,500.
• Further upside potential exists if resistance at $116,250 or higher is breached.
• Support levels identified at $114,200, $113,500, and $112,000.
• If unable to breach $115,500, potential decline toward $110,500 and $108,500.

Technical indicators show a weakening MACD in the bearish zone, while the RSI remains above 50.