Bitcoin’s 123K Resistance: Will It Break This Week?

Francis Merced

Bitcoin News

August 20, 2025

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Nearly $300 million in liquidations shook the market after Bitcoin’s drop to $114,386 today. This shows how quickly trading positions can change. So, we wonder: will bitcoin break the 123k barrier this week?

I’m looking at three signals. Spot volume spikes on Binance hit $6 billion on August 18. The Binance Whale-to-Exchange Flow dropped from $6.4B to $5B. Also, Titan of Crypto says the weekly trendline still holds. These signs show a mix in trader activities. We’re seeing both buying and selling in the short term.

The situation is complicated but tense. Bitcoin has fluctuated between about $112K and $123K. It’s been trading near the 50-period SMA at about $117,462. RSI is almost neutral, and MACD is tightening. Coinpedia and TradingView say volume is up. But volatility sent BTC below $118.8K, causing long liquidations. A comeback above $117.5K is necessary to push towards 123K.

This week, I’m watching spot volumes, whale flows, moving averages, and the weekly trendline. Add in events like Jackson Hole, and we can guess short-term crypto prices. We might see a move above $118.8K towards $123K–$130K, or a drop back to $112K support.

Key Takeaways

• Recent liquidations (~$300M) shake up the market, affecting bitcoin price prediction.
• A spike in Binance spot volume and lower whale flows suggest big buyers are active.
• The critical levels are near the 50-period SMA (~$117,462) and 123K resistance.
• RSI and MACD indicators are neutral, but a wedge hints at a big potential price move.
• Overcoming $117.5K–$118.8K is key to aiming for 123K this week.

Understanding Bitcoin’s Current Market Position

I watch the market like a mechanic looks at gauges. This past week, we saw big moves. These are important for anyone studying the crypto market seriously.

Recent Performance Analysis

Bitcoin dropped to about $114,386. This caused around $300M in liquidations in one day. TradingView noted it near $115,489 during this dip. Binance saw a spike in trading volume over $6B on August 18.

This spike happened as prices fell below $115K. It might show big investors buying more. Other sources reported BTC near $117,000 with a market value around $2.32T and daily trades about $73B.

The price stayed above $116K after reaching a high near $124,457. At one point, BTC was at $115,451.51, down 2.2% for the day and 5.4% for the week. Trading volume was up 20% to nearly $56.9B.

When prices dropped below $118.8K, over $81M in long positions were sold off. These ups and downs show the importance of detailed market analysis.

Market Sentiment Overview

Binance saw a big increase in trading. This means more big players and institutions are getting involved. CryptoQuant noticed this too. Meanwhile, big money moves to exchanges dropped from $6.4B to $5B. This is seen as a positive sign.

The mood in the market seems cautious due to recent big sell-offs totaling about $535.89M and low funding rates. There’s a struggle between big buyers and those selling quickly.

Big events are making investors wary. Comments from the Federal Reserve and upcoming economic reports have them waiting before making big moves.

Key Influencing Factors

Big investors buying more Bitcoin is key. MicroStrategy and hedge funds buying up supply affect market trends. This is crucial for any analysis that looks at market highs and lows.

Keep an eye on the $116K support level and key price ranges. Watch the RSI and MACD for signs of where prices might go. These clues help with short-term predictions.

Major news still drives the market. Updates from the Fed, inflation, and job data affect investor decisions. Recent big sell-offs and market shakes show how volatile things can be.

To understand the market, look at real-time trading, volumes, and funding rates. Also, check out on-chain data and read trusted analyses like the one here.

Technical Analysis of Resistance Levels

I look at charts, finding patterns and using tools. My aim is to connect price changes to clear signals. This lets readers understand the logic behind bitcoin’s resistance level and what to look out for next.

Charting Bitcoin’s Price Movements

I saw a tightening pattern on the chart that signals an upcoming choice. The MACD is leveling, and the RSI is around 51. This suggests a move could be coming soon.

Short-term, BTC fell below a key level and is now testing $115K support. An RSI near 31 suggests it’s oversold. Rising volume indicates sellers are active. A previous fall below $118.8K led to selling off and an uneven momentum.

Significance of the 123K Resistance

The $123K level is important for two reasons. It’s a round number and was near the recent top price of about $124.4K. Getting back above $118.8K could allow a test of 123K and aim for a zone near $127K.

Prices often gather around these key levels. That’s why staying above 123K is crucial. Traders are watching to see if bitcoin can surpass this 123K resistance soon.

Historical Resistance Patterns

Bitcoin was recently pushed back from around $124K. This brief high and following drop marked a clear resistance area between 123K and 124K.

Buying in dips has historically built strong support areas. If these areas hold and the weekly trend stays, we might see prices climb. But, if it breaks, prices could fall into the $112K–$115K range.

• Indicators used: 50-SMA near $117,462, Bollinger Bands, RSI, MACD.
• Patterns noted: narrowing wedge, candlestick rejections, liquidation-induced drops.
• Key levels: $118.8K support, $123K resistance, $127K upside target, $112K–$115K downside risk.

Predictions for This Week

I keep an eye on prices and share insights from Twitter and CryptoQuant this week. We’re seeing signs of strong buying but also the chance of a small dip. I focus on clear levels and signs instead of just hype.

Expert Forecasts

The Titan of Crypto expects the trend to continue towards $130,000 if the momentum stays strong. Amr Taha from CryptoQuant sees more people buying on exchanges, hinting at a slow rise. BorisVest feels we might see more people selling in the next two weeks.

Josh Olszewics thinks we’ll face challenges in September but things will improve in the last quarter of 2025.

Various Market Opinions

The optimists highlight big purchases by MicroStrategy and Amdax. They also notice fewer big investors selling off, suggesting a good sign. Seeing a lot of buys when prices dip is also a strong hint that prices might rise.

On the cautious side, some worry about big losses between $300 million and $535 million and negative trends that could lower prices. Uncertainty with the Fed might push the price to $112,000 if not enough buyers step in. The big question remains: will bitcoin break the 123k mark or face a hurdle?

Statistical Models and Predictions

Outcomes are linked to key price levels. If bitcoin doesn’t stay above $116,000, it might drop to $112,000. But if it goes over $118,800 with lots of buys, it could break $123,000–$127,000 and might even reach $130,000.

Things to watch include: the RSI going over 50 and a MACD crossover on charts. These, along with many buys on Binance and fewer large deposits, boost the chance of a price jump. I use these as clues for any bitcoin price forecast and short-term predictions.

Influence of Institutional Investors

I always keep an eye on institutional money because it changes the market. Big moves by firms and funds lower the amount of bitcoin on exchanges. This change affects prices in significant ways. So, when big companies get into bitcoin, it really shakes things up for liquidity and how traders act.

Companies like MicroStrategy and new players in Europe take bitcoin off exchanges. This tightens supply. MicroStrategy’s large bitcoin stash is a big deal for market scarcity. Meanwhile, companies like Amdax buying up bitcoin show growing interest from businesses everywhere.

Looking at big transactions tells us what’s happening now. Surges in trading on places like Binance and shifts in large bitcoin deposits show how funds move between different trading spots. Recently, fewer big bitcoin holders are moving their coins to exchanges, while Binance’s trading volume soared over $6 billion. This shows a lot of trading happening and changes in where money is.

MicroStrategy recently bought more bitcoin, now holding a huge amount. This move is often discussed when talking about how scarce bitcoin is. Their holdings are now very large, and their paper profits highlight their belief in bitcoin as a company asset.

When the market is shaky, big bets can suddenly collapse. Sites like CoinGlass and CryptoQuant have tracked huge losses in a short time. This shows how big moves by institutional players and borrowed money from regular folks can make price swings bigger.

When Wall Street gets more involved, it changes how people feel and how money comes into the market. More investment from big funds means more professional money in both spot and futures markets. Big economic events or Federal Reserve comments can lead to big reactions in the market.

When corporations buy up bitcoin, they decrease the supply, pushing prices toward higher resistance levels. But, when they take profits, gains can vanish quickly. So, the question of bitcoin breaking certain price levels is not just technical. It also depends on when and how much these big players buy or sell.

Here’s a simple look at what big traders watch to see how it affects prices and available money.

Role of Economic Indicators

I closely monitor macro data when I trade. Bitcoin’s journey is shaped by economic indicators. These show the changing taste for risky assets among investors. Let’s dive into how inflation, growth, interest rates, and stock market shifts change trader sentiments and market direction.

Inflation Rates and GDP Influence

When inflation rises, there’s a lot of chatter about bitcoin. A notable time was when unexpected U.S. CPI readings led to massive sell-offs in crypto. This showed how inflation fears can spark panic selling and make the market less liquid.

Slow growth or stagnation can have mixed effects. Some investors turn to bitcoin when they’re not getting enough return elsewhere. But, if the economy isn’t doing well, it can stop people from putting more money into crypto.

Interest Rate Effects on Crypto

Interest rates and crypto are hot topics during Federal Reserve meetings. If there’s a hint of change from the Fed, you’ll see swift reactions in the market. For example, there’s a rush to adjust before key speeches, bringing more ups and downs.

Usually, when interest rates go up, risky bets like bitcoin take a hit. But if rates might go down, bitcoin could surge. This see-saw is why so many wonder about bitcoin’s next big move based on interest rate news.

Correlation with Stock Market Trends

Bitcoin and stocks often move together, especially during big market shifts. When stock prices fall due to cash getting tighter, crypto usually drops too. Moves by the Fed or surprises in GDP figures can make both markets react together.

Keeping an eye on stock trends and bond yields helps me guess where crypto will go. Understanding how bitcoin and stocks relate gives insight into market mood swings for the week.

Tools for Bitcoin Analysis

I keep an eye on Bitcoin by using a blend of on-chain dashboards and market charts. This hands-on method helps me tackle the big question: will bitcoin go past the 123k mark this week? I tap into tools that highlight both the price changes and the underlying flows.

My preferred tools for tracking cryptocurrency prices are TradingView for its comprehensive BTCUSDT charts across exchanges and CryptoQuant for insights on whale activities and spot volume. CoinGlass is great for checking out liquidation heatmaps and stats that show where the market might be under pressure.

When it’s about charting Bitcoin, clean signals are crucial. On TradingView, I use several indicators like RSI, MACD, and Bollinger Bands. I keep a close eye on the 50-SMA, especially when it nears $117,462. I also compare with Binance’s charts for a closer look at spot volume and use on-chain data to monitor deposits and withdrawals.

For combining indicators, trading signals in crypto need a careful approach. I lookout for clear signs like engulfing candles or sudden spikes in volume as indicators of a significant move. I also check whale movements to exchanges and any changes in the funding rate to avoid getting tricked by false signals.

Here’s a quick comparison of the most helpful tools I use and why they are important.

I follow a structured routine for interpreting signals. First, I look for a technical confirmation, like a clear engulfing candle plus a spike in trading volume. Next, I confirm with on-chain data for whale movements and check exchange deposits. Finally, I assess funding rates and recent liquidations to gauge risk of a market squeeze.

Using this detailed approach helps me better predict if bitcoin will surpass the 123k resistance this week. While it’s not a foolproof system, it provides a disciplined way to distinguish meaningful market movements from mere noise.

FAQs About Bitcoin Resistance Levels

I often get questions about the 123K mark. People want to know why it’s important and how to keep track of price changes. I base my answers on trades I’ve observed and daily chart reviews.

What is 123K Resistance?

So, what’s 123K resistance? It’s a price range near $123,000 that’s tough to pass because of past highs and a lot of sell orders. This spot is seen as a barrier since it’s right after the all-time high of about $124,457. When prices get close, selling often increases and the rise in price can stop.

It’s also seen as a test level. Sellers set up limits around this area. This draws short-term reversals and stops being triggered.

Why Is It Significant?

Going above this level can really shake things up. It shows buyers are winning over a major price area. This can lead to more buys and trigger stops.

What keeps this up? Fewer big bitcoin holders sending to exchanges, more direct purchases, and steady trendlines help. Getting past $118.8K might be needed before aiming for 123K.

How Can I Monitor Bitcoin Price?

I use several tools to watch bitcoin prices. TradingView helps with RSI, MACD, Bollinger Bands, and the 50-day SMA. I also look for patterns that hint at what’s coming next.

CryptoQuant is great for tracking big transfers. CoinGlass tells me about liquidations. And Binance’s volume stats show if a move is strong.

Before taking action, I check a few things: a jump in volume, less deposits to exchanges, ongoing trendline support, and clear signals. For a wider view of the market, check out this market guide.

• Watch order book depth near 123K.
• Look for divergence in RSI or MACD on higher timeframes.
• Confirm any break with strong spot volume and falling exchange inflows.

Will bitcoin break 123k resistance soon? I can’t say for sure. The trends I watch offer clues, not guarantees. Right conditions increase the chances, while strong selling can block it again.

Market News and Updates

I watch the latest in bitcoin closely, looking at spikes in volume and sudden sell-offs. It’s helpful to see what big players and institutions are up to by following on-chain data and exchange numbers.

Latest Bitcoin News Highlights

On August 18, Binance saw a huge increase in BTC spot trading, reaching over $6 billion. This happened as the price dropped to around $114.4K, causing about $300 million in liquidations. Meanwhile, other reports showed BTC trading near $117K, with market patterns tightening and liquidations of $567 million during major events.

The market’s overall size and activity have decreased recently. Coinpedia reported a drop in market value to about $3.97 trillion and a 30% reduction in daily trading to $177.4 billion. These figures are key for traders thinking about bitcoin’s next moves.

I shine a light on significant exchange events, like the increase in Binance’s spot trading. For more details, check out this report on Binance’s volume surge.

Regulatory Changes Impacting Bitcoin

There aren’t major new regulations to talk about right now. However, the landscape is changing through new listings and big players joining in. For instance, Amdax getting listed on Euronext shows how the scene is evolving in Europe.

It’s smart for investors to keep an eye on what the SEC, European regulators, and exchanges are saying. These updates influence how institutions view risk and reveal the regulatory hurdles bitcoin faces.

Global Crypto Market Trends

The market is going through a rough patch, with lots of sales and high volatility. This makes investors nervous, even though there are signs that big investors and companies are still interested in crypto for the long haul.

Despite the daily ups and downs, institutions and businesses continue to support crypto. Watching these trends helps me understand the market’s direction and what it means for prices and traders.

Evidence Supporting Predictions

I take notes on price trends and charts. My goal is to gather clues of a bitcoin breakout. I look at old bitcoin trends and use charts to help readers see momentum for themselves.

Bitcoin once hit a high near $124,457 and then dropped. This drop is part of a pattern. When there is a lot of buying during low prices, a comeback is often next.

CryptoQuant and exchanges show big buying when prices are low. These moments usually start a time when buyers take over from sellers.

I looked at past times when bitcoin’s price went up but then paused. After a while, it climbed again, especially when big investors bought a lot. Buying like MicroStrategy did shows how big buyers can keep rallies going.

If current buying keeps up and big traders don’t sell a lot to exchanges, history might repeat itself. This isn’t sure. It depends on steady buying and not too much selling.

About indicators, RSI readings change over time. Some show it’s too low at 31, while others are around 51. A clear move above 50 suggests momentum is getting better.

The MACD on daily charts is leveling out. It might mean a change is coming instead of a downturn. Look for a bullish MACD switch as proof of positive change.

Moving averages are key. The 50-SMA is near $117,462, which is a hurdle. Breaking past $118.8K could clear the way up near $123K.

The Bollinger Band setup and a wedge breakout hint at more growth. Adding heavy buying support suggests a real chance of a breakout, not just a temporary push.

The table compares important past and present signals. It helps see how similar the situations are to successful breakouts in the past.

For those wondering if bitcoin will break the 123k resistance soon, compare the table data with actual trends. My advice is to look for solid proof, not just hope for a single jump.

Focus on buying trends, strong buying signals, and what RSI and MACD indicators show. These points are what give us hope for a bitcoin breakout.

Community Insights and Discussions

I check the feeds and forums every day. They show if traders are optimistic or cautious. The mood on social media bitcoin changed after its value dropped to $114K and Binance saw more trading. This mix of hope and caution is clear in comments from CryptoQuant and Titan of Crypto. Many people use these posts to argue that the market momentum is picking up.

On X and other trading channels I watch, people talk about buying more bitcoin and warn about potential risks. This balance keeps the discussions going. Questions about whether bitcoin will get past the 123k mark are common.

Social Media Sentiment

Talks about trading volume get optimistic when big players deposit less and buy more. Some posts suggest big companies are starting to invest. Others believe small traders are taking advantage of the situation. I consider both perspectives to form my opinion.

Forum Discussions and Expert Opinions

Forum talks on TradingView and Reddit focus on weekly trends and key technical levels. Experts on TradingView highlight the significance of how the week ends. Some community members are bracing for a hard September. Yet, others predict a bounce back in Q4.

The conversation often comes down to if the recent trading volume spike indicates big players investing or just temporary interest. MicroStrategy’s purchases and comments from Michael Saylor are often seen as strong signs of market confidence by many users.

Notable Predictions from Influencers

Predictions from influencers about bitcoin prices vary. Titan of Crypto suggests $130K could be reached if the weekly trend holds. Josh Olszewics points out potential difficulties in September. Followers compare these predictions with market data and big events before deciding which to trust.

• What I notice: influencer bitcoin predictions quickly change market mood.
• What I watch: forum conversations for shifts in consensus.
• What I ask: will bitcoin overcome the 123k hurdle this week — and why traders think it will or won’t?

Conclusion: What to Expect This Week

I’ve been watching Bitcoin closely, tracking everything from price actions to macro headlines. The recent dip to around $114K–$115K led to significant liquidations. At the same time, Binance’s spot volume soared past $6B, and the flow from whales to exchanges dropped by about $1.4B. These could be signs that people are starting to gather more Bitcoin.

Keep an eye on a few key technical levels. Support is at $116K, and the first hurdle is near $117.4K at the 50-SMA. The next goals are $118.8K for recovery and $123K for target resistance. If momentum picks up, we could even hit $127K–$130K.

Summary of Key Points

Macro risks can change the game fast, especially with Jerome Powell’s talks and new inflation data. Despite the short-term bearish signs, breaking the $123K bitcoin resistance is still challenging. To believe in a strong upward move, Bitcoin must surpass $118.8K with solid volume. It’s also critical that big sellers keep their distance.

Final Thoughts and Recommendations

Can Bitcoin get past the $123K block this week? Maybe, but we need to be cautious. Accumulation signs look good, but big events and past liquidations could interrupt any big rises. My advice? Look for big daily candlesticks and huge volume. Also, keep tabs on flow from whales, Binance’s volume, funding rates, and important indicators like RSI/MACD for a hint at a true breakout. These strategies help me in crypto trading.

Next Steps for Bitcoin Investors

Set up alerts on TradingView for key levels: $117.5K, $118.8K, and $123K. Use CryptoQuant to watch spot volume and whale activity, and CoinGlass for any sudden liquidations. Prepare for big price moves, use stop-losses wisely below $112K for leveraged positions, and buy in during confirmed accumulation phases instead of rushing in. According to various data sources and reports, a breakout could happen, but only if the signs are clear.