19.09.2025 02:15
Bitcoin's price is currently navigating an upward trajectory, having moved above the $116,650 threshold. The digital asset now confronts a series of critical hurdles, and its capacity for extended gains hinges on a successful breach of the formidable $118,000 resistance zone. This latest surge initiated with a fresh ascent past the $116,500 mark. While briefly trading below $116,500 and its 100-hourly Simple Moving Average in a recent dip, a key bullish trend line is concurrently forming, providing robust support at $115,800 on the hourly chart for the BTC/USD pair, according to data compiled from various internet sources. Further upward momentum could be unlocked if the pair decisively clears the $117,850 area.
The cryptocurrency recently embarked on a significant upward wave, surpassing the $116,000 level. Bulls demonstrated their dominance by effectively conquering resistance points at $116,200 and $116,500, ultimately propelling the price beyond $117,500. Bitcoin's ascent culminated in a peak at $117,920 before undergoing a minor downside correction. This brief retreat saw the price briefly fall below $117,200, testing the 50% Fibonacci retracement level of its impressive climb from the $115,247 swing low to the $117,920 high. Nevertheless, strong buying interest quickly emerged near $116,750, underpinning its recovery. Bitcoin is presently trading robustly above $116,500 and comfortably above its 100-hourly Simple Moving Average. Immediate resistance lies around $117,500, with the primary key resistance identified at $117,850. The subsequent barrier is positioned at $118,000; a definitive close above this level could propel the price further, potentially testing $118,500, with even greater gains possibly extending towards $118,800. The next significant challenge for buyers would then be $119,250.
Conversely, a failure by Bitcoin to decisively surmount the $117,850 resistance zone could precipitate a fresh wave of declines. Immediate downside protection is anticipated near $116,550. A more substantial support level is located at $115,800, which is reinforced by both the established bullish trend line and the 76.4% Fibonacci retracement level of the recent upward move (spanning from the $115,247 low to the $117,920 high). Should this crucial level be breached, the subsequent major support would be found in the vicinity of $115,250. Extended losses might see the price gravitate towards the $114,500 support in the near term. The ultimate critical support, vital for averting a steeper market correction, is situated at $112,500, a point below which BTC could experience a rapid and significant depreciation.
From a technical analysis standpoint, the hourly Moving Average Convergence Divergence (MACD) is exhibiting signs of losing its upward momentum, although it still resides within the bullish zone. Concurrently, the Hourly Relative Strength Index (RSI) for the BTC/USD pair remains firmly positioned above the 50-level, indicating that bullish sentiment, while perhaps moderating, still maintains a predominant influence. Key support levels for traders to monitor are $116,550, followed by $115,800, whereas major resistance levels are clearly marked at $117,850 and $118,000.
