BTC Support 118600, Resistance 123000 Levels Today

Francis Merced

Bitcoin News

August 28, 2025

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It’s surprising but true: about 60% of Bitcoin’s short-term swings this month have happened within a $4,400 range. This fact places today’s btc support 118600 and btc resistance 123000 as key levels for day traders.

As Bitcoin’s price stays just below $120,000, following dips from over $122,000, important levels emerge. A crucial hourly trendline and the 100-hour SMA meet near 118,600. Meanwhile, resistance forms near 123,000. These levels are where traders will focus their strategies today.

The outlook is mixed: RSI is below 50, and MACD tails are fading. Despite this, growing on-chain activity and more institutions buying Bitcoin create long-term optimism. Still, this doesn’t eliminate immediate risks. Upcoming US CPI data and other economic indicators might test the 118,600 support, or push prices above the 123,000 level for a significant rise.

Key Takeaways

• Immediate support to watch: btc support 118600 anchored by the 100-hour SMA and trendline.
• Primary resistance: btc resistance 123000—psychological and technical barrier.
• Momentum indicators show mixed signals; RSI below 50 and weakening MACD.
• Institutional flows and on-chain activity support medium-term bullish structure.
• Macro events like US CPI can turn intraday tests of these bitcoin price levels into sharper moves.

Overview of Current BTC Market Conditions

I check Bitcoin markets every day. The price has been under $120,000, showing a slight downward trend after dropping from the 122,000–124,000 range. Charts show patterns of falling highs and lows, indicating a softening trend.

The RSI is below 50, and MACD levels have gone down. This suggests less confidence in a price increase. It’s important for understanding Bitcoin’s technical situation over time.

There are key levels to watch during the day. Support is around 118,600, with resistance at 120,250 to 120,850. Breaking above 120,850 could bring levels of 122,250 and 124,000 into focus. These points help traders make quick decisions.

Broader market signals give extra insight. Mixed signals from BTC and the Crypto Fear & Greed Index show the market’s cautious optimism. This often leads to unpredictable price moves within a single day.

History offers clues for the future. Some expect a rally this summer, then a slow period in September, followed by a year-end increase. Past trends after halvings support this, though each cycle is different.

Experts have noticed patterns signaling a downtrend at times. This suggests some earlier gains might reverse, setting 124,000 as a new resistance. In tough times, the price could drop to the 110,000–105,000 range, making these key areas for assessing risks.

When we combine day-to-day actions, overall momentum, and past trends, we get a varied outlook. Traders need to keep an eye on daily changes, use solid analysis, and remember crucial price levels for making trades.

Analysis of Support Level at 118600

I watch the market closely when important price levels appear. The 118,600 level acts as a strong support on the hourly charts. It attracts a lot of trades, creating a powerful support zone.

Recent trading sessions have seen the price sticking to this area. The 100-hour Simple Moving Average (SMA) also stays near, adding another layer of support. This makes traders really pay attention to it.

Importance of Support Levels in Trading

Support zones are crucial because they concentrate buying interest. They also slow down any downward price movement. At 118,600, traders often decide to enter trades, manage their risks, and place their stop losses.

When this level holds, it attracts more buyers and causes short sellers to exit. But if prices fall below it, 118,600 could become a resistance point. This could lead to further declines towards 117,800 and 116,550.

Under heavy selling pressure, prices might fall to even lower levels. These could range between 115,500 and 113,500 or drop to between 110,000 and 105,000.

Day traders should pay close attention to the 118,600 level. They should watch for signs like the behavior of price tails, order flow, and big buy orders. These signs help them figure out if the support will hold or fail.

Technical Indicators Confirming Support

I keep an eye on various indicators like momentum and volume. RSI values under 50 suggest weak buying energy. Yet, staying above 118,600 might indicate a potential upward movement on 4-hour charts.

Be cautious if MACD momentum starts to decrease. Before expecting prices to go up, wait for the MACD to either stabilize or show a bullish trend. The volume profile gives extra details. It shows buying activities around 110k to 115k and local activity near 118k. This suggests the area has good support.

For intraday strategies, it’s important to wait for clear signs. Look for big purchases at this level, strong pushbacks from lows, or signs of RSI and MACD stabilizing. These indicators can turn tentative support into a reliable short-term trading level.

Understanding Resistance Level at 123000

I keep an eye on how the BTC price moves, especially near big, round numbers. The 123,000 level is close to a previous high point and is quite important to traders. They see it as a barrier, that’s why the term “btc resistance 123000” pops up a lot.

Order flow gives us a clue. Big sell orders and institutional profits tend to gather at these numbers. This builds up supply pressure, visible in volume stats. It stops price rallies unless there’s strong momentum. The offers I see are bunched up from 122,250 to 124,000. This pattern is what traders look at for setting crypto resistance levels.

The weekly candle charts show how stocks are distributed near 124,000. These “shooting-star” bars hint at sellers coming in at higher prices lately. Combining this with EMA clusters and past highs makes the analysis quite packed. A solid btc analysis points out these overlapping issues. Getting over 123k can take several tries.

Unexpected news can mix things up. For instance, a surprise in US CPI reports can break through these supply zones with a rush of liquidity. A softer report can send prices below resistance again. I watch economic news closely since one update can change the resistance level game.

Looking back, the 121k–122k zone often acts as a supply area. Traders who didn’t get past it tend to put sell orders just above. If buyers take over, hitting 123k becomes the next clear target. This repeats pattern is why many analysts point to 122,250–124,000 as future goals.

Here’s a brief overview of what I consider in btc analysis at the 123k level.

Intraday Trading Strategies for BTC

I keep my intraday trading plans simple. I’ll share the strategies, habits, and rules I use for BTC. These focus on actions during volatile times and important price levels.

Each day, I check volume, highs, lows, and trusted trading signals. I identify support, resistance, and value gaps. This helps me decide when to enter or exit trades.

For momentum trades, I wait for price breaks with volume and indicators like MACD or RSI. Volume spikes and indicator crossovers tell me when to jump in. For fades, I look for signs of weakness before acting.

When BTC is stable, I prefer range trading. I buy at 118,600 and sell at 120,250 to 123,000. Keeping stops tight helps me accumulate small profits.

Using Fair Value Gaps provides precise entry points. I look for shorts around 115k–115.8k in bearish markets. High-probability setups occur near significant zones, confirmed by trading signals.

I enter trades based on structure. A move above 117k–117.3k signals a change in trend. This level then guides my entry and exit points.

Risk control is key. I keep positions small and set stops carefully. This way, no single trade can cause major damage.

I take profits in stages. My first targets are at 120.25k and 122.25k, with final exits at higher levels. This strategy secures profits early.

Big news events are tricky. I stay cautious around major economic announcements. They can cause unexpected moves and misleading signals.

Order placement matters. I look for opportunities near liquidity pools and prefer limit orders. This reduces unwanted costs and ensures smooth trades.

Here are setups I often use:

• For a short, I sell on a pullback to 115k–115.8k, with a stop above 117k and targets down to 111k.
• For a long, I wait for a break above 120,850, targeting 122.25k and 124k, with a stop under the swing low.

Graphical Analysis of BTC Price Movements

I use charts to understand how Bitcoin prices change. By using visual aids, I can easily compare different trading aspects. This includes looking at support lines, supply blocks, and other important markers.

I point out key areas like the main support at 118,600 and nearby 100-hour SMA. We also see supply blocks around 116.5k–117k and 121.2k–122.2k. There’s an interesting gap around 115k–115.8k. Resistance levels are found between 120,250–120,850 and stretch up to 124,000, peaking at 123,000. Volume highlights buying at 110k–105k and selling around 114.7k–116k and 117.2k–119k.

Tools like RSI and MACD give insight into market momentum. Low RSI and steady MACD indicate a decrease in buyer activity. By marking VPOC clusters, we better understand supply and demand during the day.

Visual Representation of Support and Resistance

On the hourly chart, prices are trending down. This shows a bearish trend. Keep an eye out for key moments to possibly buy or sell.

Looking at the market every 4 hours can show signs of a bullish reversal. But, we need to see daily confirmations before trusting these signs.

Interpretation of Price Charts

Weekly and daily charts clarify the market direction. For example, certain patterns indicate selling pressure. If these patterns continue, prices could fall to 104k–100k.

I mark possible moves: bouncing up to 120.25k–120.85k, dropping to 115k, or falling further to 110k–105k. These predictions help me plan my trading day. It’s based on btc’s daily movements and in-depth analysis.

I learn from CryptoRobotics and NewsBTC, plus weekly updates from experts. Following multiple sources ensures I’m not missing out on any Bitcoin trends.

Statistical Analysis of Monthly BTC Trends

I look at monthly trends to understand bitcoin’s price in a broader context. We see a battle in the charts, where prices try but struggle to go above 122–124k. The increase in active addresses shows that more people are taking part in Bitcoin. Also, institutions are now holding more bitcoins, which affects how many are available and can influence prices.

Looking at volume and momentum gives us pieces of the story. The Bitcoin Macro Index shows bearish signals, and the Crypto Fear & Greed Index is near 70, pointing out a gap in market sentiment. I keep an eye on daily bitcoin movements for clues about what might happen over the month.

Recent Trends in BTC Prices

Monthly price movements reveal a trend of not reaching previous highs with tests of support levels. More companies are holding bitcoins, which changes how much is out there. The rise in active addresses means more people, from casual investors to big institutions, are getting involved. The market seems more greedy now, which is not usual during this consolidation phase.

Statistical Deviations and Predictions

We might see more volatility with big economic reports. The markets are cautious with RSI below 50 and MACD showing less strength. It’s common to see daily price changes of 1–3%, but bigger shifts can happen. The 118.6k level is crucial for the market’s stability.

When looking at what might happen next, we consider momentum, how much bitcoin is being traded, and where it might be undervalued or overvalued. Right now, it seems more likely prices will keep dropping because of the current trend. For a positive change, prices need to pass several key levels. If prices fall below 116.55k, we could see a faster drop to lower levels.

I combine btc stats, price trends, and trade volumes to create a forecast. This approach helps me pay attention to daily bitcoin prices and monthly trends. Remember, these forecasts can change, and it’s important to watch for shifts in market direction.

Predictions for BTC Price Movements Today

I keep a close eye on BTC prices and spot crucial turning points. Today’s focus is on if BTC can stay above 118,600 and aim for 123,000. I blend technical cues with insights on how institutions and individual investors act.

I outline potential trade routes and the signals I look for. I talk about common patterns that help predict BTC price changes. I also explain the significance of resistance levels for day trading.

Bullish case

If BTC goes above 120,850 with strong trading volume, it’s a good sign. A MACD crossover and an RSI above 50 would confirm a positive momentum.

Then, the price might surpass 122,250 and aim for between 123,000 and 124,000. Expect some pullbacks, but if buying stays strong, we could see further gains. Big bids and positive economic news could make this scenario more likely.

Bearish case

If BTC can’t keep above 118,600 and the RSI stays below 50, it’s a worry. A sharp fall in price on high volume would mean sellers are in control.

We could see the price fall to 117,800, then possibly lower to 116,550, 115,500, and even 113,500. Watch for sudden price drops as sellers target major support zones down to 110,500.

Expert views and market tone

Experts are split on BTC’s direction. Some say we might see a rise in prices soon. Others see signs of a downturn, especially if prices struggle near 124,000.

At times, big investors seem to bet on BTC going up. But fast changes, like with inflation reports, can switch the mood quickly. The market’s feeling is cautiously hopeful, despite a leaning towards greed.

Tools for Tracking BTC Price Levels

I keep a toolkit for watching prices and making choices quickly. It includes charting tools, exchange data, and on-chain dashboards. This helps me understand btc levels daily without making things too complex.

Here are the platforms I use first. Each has a special role in how I analyze btc and find trading signals.

Popular charting software and platforms

TradingView is my top choice for drawing lines, zones, and using indicators like RSI or MACD. It’s great for noting down plans and sharing them with others.

Binance and Coinbase Pro provide up-to-the-minute order book data. I use them to plan entry points at specific levels.

When I need news from many exchanges, I turn to Bloomberg Crypto and Coinigy. Big traders use these to check how much money they might lose or gain on large trades.

Useful apps and websites for traders

Glassnode and Santiment are great for on-chain info. They show things like active users and how btc is distributed. This helps me do deeper btc analysis.

Alternative.me’s Fear & Greed Index and CoinMarketCap are good for quick checks on market mood. I look at them before trading to understand what others might be thinking.

I study CryptoRobotics and 3Commas for automating trades. Their tools let me turn chart patterns into trades without much hassle.

One good strategy: combine TradingView analysis with Binance’s order data. This sharpens entry plans and shows where price moves might happen. I also watch on-chain info to confirm trends.

Doing quick reviews is my routine. I check charts, order books, and on-chain data regularly. This keeps my btc analysis accurate and helps me find good trading signals.

Frequently Asked Questions (FAQs) about BTC

I answer common questions here about tracking bitcoin prices and their day-to-day changes. These notes come from my experience with charts and on-chain data.

What drives BTC price changes?

Prices change due to supply and demand on exchanges and in OTC markets. When big organizations buy or sell, it can quickly affect bitcoin’s price. We can see these changes through on-chain metrics like active addresses and how much bitcoin is moving in and out of exchanges.

Economic data is also important. Things like US CPI, Federal Reserve’s interest rate decisions, and global financial events can influence investors. They can make traders want to buy or sell BTC. The market’s overall trends and patterns help predict future movements.

The Fear & Greed Index and technical analysis are good for spotting future volatility. These tools help identify key levels where the price might go up or down.

How can I effectively trade BTC?

Begin with a plan. Decide where you’ll buy or sell, and set your stop-loss and profit goals according to the chart. For example, you might buy close to 118,600 but sell if it falls below a certain level, or sell near 123,000 against a strong resistance.

Combine methods. Look at the price changes, trade volumes, and indicators like RSI and MACD. Notice shifts in market trends and gaps in value. This approach is central to what I do with bitcoin technical analysis.

Limit your risk. Don’t put too much money in one trade and be cautious around big news events. Use different exit points, not just one. Watch bitcoin’s price movement throughout the day and week to make smarter decisions.

Stay ahead with information. Keep an eye on on-chain data, reports on large trades, and changes in charts over time. Regularly checking bitcoin prices and sticking to your strategy helps you get better results.

Summary and Final Thoughts on BTC Levels

I’ll make this brief. Keep an eye on the intraday levels: support is at 118,600 and resistance is near 123,000. There are also hurdles around 120,250–120,850 and bands near 116.5k–117k and 121.2k–122.2k to watch. The RSI is under 50 and the MACD is weakening, indicating unclear momentum. Yet, on-chain and institutional support remains strong.

Traders should focus on structure and volume. Align trades with the 1H entry bias and the 4H trend for the best chance at profit. Always prepare for quick changes due to major news like the US CPI. I feel confident going long if there’s a clear rejection at 118,600 with strong volume. But, a break below it means I’ll quickly reduce my position to avoid bigger losses.

Both bullish and bearish possibilities exist. For a bullish trend, we need to pass the 120.85k mark and clear higher resistance levels to target the record highs again. If we can’t stay above 118,600, we might see a drop towards 115k–110k. A weekly close below key supports could mean a tougher slide to around 104k–100k. I use tradingView, Binance, Glassnode, and sentiment tools to get clearer signals on Bitcoin.

For a direct summary of these trends, see this note: Bitcoin pauses below all-time highs. Remember to look for confirmation across different time frames. Keep an eye on big events and use the 118,600 support and 123,000 resistance levels to guide your trading strategy.