{"id":88578,"date":"2025-08-15T02:20:57","date_gmt":"2025-08-15T02:20:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=88578"},"modified":"2025-08-15T02:20:57","modified_gmt":"2025-08-15T02:20:57","slug":"bitcoin-price-slides-4-after-strong-rally-correction-or-pause","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=88578","title":{"rendered":"Bitcoin Price Slides 4% After Strong Rally \u2013 Correction or Pause?"},"content":{"rendered":"

Bitcoin price is trimming gains from the $124,000 zone. BTC is now consolidating below <\/em>$120,000 and might aim for a recovery wave.<\/em><\/p>\n

Bitcoin started a downside correction from the $124,000 zone.
\nThe price is trading below $122,000 and the 100 hourly Simple moving average.
\nThere was a break below a key bullish trend line with support at $120,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $120,000 resistance zone.<\/p>\n

Bitcoin Price Dips Sharply<\/h2>\n

Bitcoin price traded to a new all-time high<\/a> near $124,000 before the bears appeared. BTC started a correction and traded below the $122,000 support zone.<\/p>\n

There was a move below the $121,200 support zone and the 100 hourly Simple moving average. Besides, there was a break below a key bullish trend line with support at $120,000 on the hourly chart of the BTC\/USD pair. The pair tested the $117,250 zone.<\/p>\n

It is now consolidating losses and has recovered some losses to test the 23.6% Fib retracement level of the move from the $124,420 swing high to the $117,250 low. Bitcoin is now trading below $120,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance on the upside is near the $119,000 level. The first key resistance is near the $120,000 level. The next resistance could be $120,500. A close above the $120,500 resistance might send the price further higher.<\/p>\n

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

In the stated case, the price could rise and test the $121,650 resistance level or the 61.8% Fib retracement level of the move from the $124,420 swing high to the $117,250 low. Any more gains might send the price toward the $122,200 level. The main target could be $123,500.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $120,000 resistance zone, it could start a fresh decline. Immediate support is near the $118,000 level. The first major support is near the $117,250 level.<\/p>\n

The next support is now near the $116,500 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 $117,250, followed by $116,500.<\/p>\n

Major Resistance Levels \u2013 $120,000 and $120,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is trimming gains from the $124,000 zone. BTC is now consolidating below $120,000 and might aim for a recovery wave. Bitcoin started a downside correction from the $124,000 zone. The price is trading below $122,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":88579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88578","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\/88578"}],"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=88578"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88578\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/88579"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}