{"id":87943,"date":"2025-08-13T02:38:02","date_gmt":"2025-08-13T02:38:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=87943"},"modified":"2025-08-13T02:38:02","modified_gmt":"2025-08-13T02:38:02","slug":"bitcoin-price-trades-sideways-under-120k-will-bulls-regain-control","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=87943","title":{"rendered":"Bitcoin Price Trades Sideways Under $120K\u2014Will Bulls Regain Control?"},"content":{"rendered":"

Bitcoin price is correcting gains below the $121,200 zone. BTC is now consolidating and might aim for a move above the $120,500 resistance zone.<\/em><\/p>\n

Bitcoin started a downside correction below the $121,200 zone.
\nThe price is trading above $118,000 and the 100 hourly Simple moving average.
\nThere is a bullish trend line forming with support at $118,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $120,250 resistance zone.<\/p>\n

Bitcoin Price Holds Key Support<\/h2>\n

Bitcoin price failed to extend gains above $122,250 and started a downside correction<\/a>. BTC corrected gains and traded below the $121,200 support zone.<\/p>\n

There was a move below the $120,500 level. The price dipped below the 50% Fib retracement level of the upward move from the $116,282 swing low to the $122,272 high. Finally, the price spiked below the $118,500 support and tested the 100 hourly Simple moving average.<\/p>\n

Bitcoin is now trading above $118,000 and the 100 hourly Simple moving average<\/a>. There is also a bullish trend line forming with support at $118,600 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

Immediate resistance on the upside is near the $120,000 level. The first key resistance is near the $120,250 level. The next resistance could be $120,850. A close above the $120,850 resistance might send the price further higher. In the stated case, the price could rise and test the $122,250 resistance level. Any more gains might send the price toward the $124,000 level. The main target could be $125,000.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $120,500 resistance zone, it could start another decline. Immediate support is near the $118,600 level or the 61.8% Fib retracement level of the upward move from the $116,282 swing low to the $122,272 high. The first major support is near the $117,800 level.<\/p>\n

The next support is now near the $116,550 zone. Any more losses might send the price toward the $115,500 support in the near term. The main support sits at $113,500, below which BTC might continue to move down.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $118,600, followed by $117,800.<\/p>\n

Major Resistance Levels \u2013 $120,250 and $120,850.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is correcting gains below the $121,200 zone. BTC is now consolidating and might aim for a move above the $120,500 resistance zone. Bitcoin started a downside correction below the $121,200 zone. The price is trading above $118,000 and the 100 hourly Simple moving average. There is a bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":87944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-87943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/87943"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87943"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/87943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/87944"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}