United for Profits
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
  • Personal Finance
  • Cryptocurrency
  • Strategy
  • Business
  • Retirement
No Result
View All Result
United for Profits
No Result
View All Result
Home Cryptocurrency

Bitcoin Price Retreats From Highs – Is The Market Signaling A Short-Term Top?

by
October 8, 2025
in Cryptocurrency
0
Bitcoin Price Retreats From Highs – Is The Market Signaling A Short-Term Top?

Bitcoin price struggled to surpass $126,200 and corrected gains. BTC is now consolidating near $122,000 and might aim for a recovery wave.

Bitcoin started a downside correction below the $125,000 level.
The price is trading below $124,000 and the 100 hourly Simple moving average.
There is a key bearish trend line forming with resistance at $123,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might continue to move down if it trades below the $120,500 zone.

Bitcoin Price Corrects Gains

Bitcoin price extended gains above the $124,000 zone. BTC climbed above the $125,000 and $125,500 resistance levels before the bears appeared.

A new high was formed at $126,198 before there was a downside correction. The price dipped below the $124,000 support zone. There was a sharp move and the price tested the $120,500 region. The price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $126,191 swing high to the $120,694 low.

Bitcoin is now trading below $124,000 and the 100 hourly Simple moving average. Besides, there is a key bearish trend line forming with resistance at $123,500 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is near the $122,250 level. The first key resistance is near the $123,500 level and the trend line. It is close to the 50% Fib level of the recent decline from the $126,191 swing high to the $120,694 low.

The next resistance could be $124,200. A close above the $124,200 resistance might send the price further higher. In the stated case, the price could rise and test the $125,500 resistance. Any more gains might send the price toward the $126,000 level. The next barrier for the bulls could be $126,200.

More Losses In BTC?

If Bitcoin fails to rise above the $123,500 resistance zone, it could start a fresh decline. Immediate support is near the $121,200 level. The first major support is near the $120,500 level.

The next support is now near the $118,500 zone. Any more losses might send the price toward the $116,200 support in the near term. The main support sits at $115,500, below which BTC might struggle to recover in the short term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $121,200, followed by $120,500.

Major Resistance Levels – $122,250 and $123,500.

Previous Post

Is A 900% Rally To $2.98 ATH Possible As Pi Network Announces New DeFi Updates?

Next Post

Hyperliquid (HYPE) Drops 6% to $45, But Analysts Say a $55–$60 Rebound May Be Next

Next Post
Hyperliquid (HYPE) Drops 6% to $45, But Analysts Say a $55–$60 Rebound May Be Next

Hyperliquid (HYPE) Drops 6% to $45, But Analysts Say a $55–$60 Rebound May Be Next

Exchange Rate

Exchange Rate USD: Wed, 8 Oct.

Enter Your Information Below To Receive Trading Ideas and Latest News

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Email Whitelisting

    Copyright © 2025 unitedforprofits.com All Rights Reserved.

    No Result
    View All Result
    • Personal Finance
    • Cryptocurrency
    • Strategy
    • Business
    • Retirement

    Copyright © 2025 unitedforprofits.com All Rights Reserved.