{"id":89430,"date":"2025-08-19T02:37:41","date_gmt":"2025-08-19T02:37:41","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=89430"},"modified":"2025-08-19T02:37:41","modified_gmt":"2025-08-19T02:37:41","slug":"bitcoin-price-extends-decline-could-test-112k-before-bulls-return","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=89430","title":{"rendered":"Bitcoin Price Extends Decline, Could Test $112K Before Bulls Return"},"content":{"rendered":"

Bitcoin price is correcting gains and trading below $118,000. BTC is still showing some bearish signs and might decline toward the <\/em>$112,000 zone.<\/em><\/p>\n

Bitcoin started a downside correction below the $118,000 zone.
\nThe price is trading below $116,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $118,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $118,000 resistance zone.<\/p>\n

Bitcoin Price Dips Again<\/h2>\n

Bitcoin price started a fresh decline<\/a> after a close below the $120,000 level. BTC gained bearish momentum and traded below the $118,500 support zone.<\/p>\n

There was a move below the $116,500 support zone and the 100 hourly Simple moving average. The pair tested the $114,750 zone. A low was formed at $114,715 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $124,420 swing high to the $114,715 low.<\/p>\n

Bitcoin is now trading below $117,000 and the 100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $117,000 level. The first key resistance is near the $118,000 level. There is also a key bearish trend line forming with resistance at $118,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The next resistance could be $118,500. A close above the $118,500 resistance might send the price further higher. In the stated case, the price could rise and test the $119,500 resistance level. It is close to the 50% Fib retracement level of the recent decline from the $124,420 swing high to the $114,715 low. Any more gains might send the price toward the $120,000 level. The main target could be $121,500.<\/p>\n

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

If Bitcoin fails to rise above the $118,000 resistance zone, it could start a fresh decline. Immediate support is near the $115,000 level. The first major support is near the $114,750 level.<\/p>\n

The next support is now near the $113,500 zone. Any more losses might send the price toward the $112,000 support in the near term. The main support sits at $110,000, below which BTC might continue to move down.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish 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 $115,000, followed by $113,500.<\/p>\n

Major Resistance Levels \u2013 $118,000 and $118,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is correcting gains and trading below $118,000. BTC is still showing some bearish signs and might decline toward the $112,000 zone. Bitcoin started a downside correction below the $118,000 zone. The price is trading below $116,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":89431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-89430","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\/89430"}],"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=89430"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/89430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/89431"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}