{"id":6404,"date":"2025-08-15T04:11:08","date_gmt":"2025-08-15T04:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-slides-4-after-strong-rally-correction-or-pause\/"},"modified":"2025-08-15T04:11:08","modified_gmt":"2025-08-15T04:11:08","slug":"bitcoin-price-slides-4-after-strong-rally-correction-or-pause","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-slides-4-after-strong-rally-correction-or-pause\/","title":{"rendered":"Bitcoin Price Slides 4% After Strong Rally \u2013 Correction or Pause?"},"content":{"rendered":"<p><em>Bitcoin price is trimming gains from the $124,000 zone. BTC is now consolidating below <\/em><em>$120,000 and might aim for a recovery wave.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction from the $124,000 zone.<\/li>\n<li>The price is trading below $122,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $120,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start another increase if it clears the $120,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Sharply<\/h2>\n<p>Bitcoin price traded to a new all-time high near $124,000 before the bears appeared. BTC started a correction and traded below the $122,000 support zone.<\/p>\n<p>There was a move below the $121,200 support zone and the 100 hourly Simple moving average. Besides, there was a break below a key bullish trend line with support at $120,000 on the hourly chart of the BTC\/USD pair. The pair tested the $117,250 zone.<\/p>\n<p>It is now consolidating losses and has recovered some losses to test the 23.6% Fib retracement level of the move from the $124,420 swing high to the $117,250 low. Bitcoin is now trading below $120,000 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $119,000 level. The first key resistance is near the $120,000 level. The next resistance could be $120,500. A close above the $120,500 resistance might send the price further higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-805119\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/08\/Bitcoin_279a02.png?resize=1024%2C493\" alt=\"Bitcoin Price\" width=\"1024\" height=\"493\" \/><\/p>\n<p>In the stated case, the price could rise and test the $121,650 resistance level or the 61.8% Fib retracement level of the move from the $124,420 swing high to the $117,250 low. Any more gains might send the price toward the $122,200 level. The main target could be $123,500.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $120,000 resistance zone, it could start a fresh decline. Immediate support is near the $118,000 level. The first major support is near the $117,250 level.<\/p>\n<p>The next support is now near the $116,500 zone. Any more losses might send the price toward the $115,500 support in the near term. The main support sits at $113,500, below which BTC might continue to move down.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $117,250, followed by $116,500.<\/p>\n<p>Major Resistance Levels \u2013 $120,000 and $120,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is trimming gains from the $124,000 zone. BTC is now consolidating below $120,000 and might aim for a recovery wave. Bitcoin started a downside correction from the $124,000 zone. The price is trading below $122,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6405,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-6404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=6404"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6404\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6405"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}