{"id":6457,"date":"2025-08-18T04:11:07","date_gmt":"2025-08-18T04:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-extends-losses-can-buyers-prevent-a-major-breakdown\/"},"modified":"2025-08-18T04:11:07","modified_gmt":"2025-08-18T04:11:07","slug":"bitcoin-price-extends-losses-can-buyers-prevent-a-major-breakdown","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-extends-losses-can-buyers-prevent-a-major-breakdown\/","title":{"rendered":"Bitcoin Price Extends Losses, Can Buyers Prevent a Major Breakdown?"},"content":{"rendered":"<p><em>Bitcoin price is trimming gains and trading below $120,000. BTC is now showing some bearish signs and might decline below <\/em><em>$115,500 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction below the $120,000 zone.<\/li>\n<li>The price is trading below $118,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key declining channel with support at $116,200 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 $118,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Further<\/h2>\n<p>Bitcoin price traded to a new all-time high near $124,000 and started a fresh decline. BTC gained bearish momentum and traded below the $120,000 support zone.<\/p>\n<p>There was a move below the $118,500 support zone and the 100 hourly Simple moving average. Besides, there was a break below a key declining channel with support at $116,200 on the hourly chart of the BTC\/USD pair. The pair tested the $115,800 zone.<\/p>\n<p>It is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $124,420 swing high to the $115,800 low. Bitcoin is now trading below $118,000 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $116,850 level. The first key resistance is near the $118,000 level. The next resistance could be $118,500. A close above the $118,500 resistance might send the price further higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-805880\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/08\/Bitcoin_e1d1bd.png?resize=1024%2C493\" alt=\"Bitcoin Price\" width=\"1024\" height=\"493\" loading=\"lazy\" \/><\/p>\n<p>In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level or the 50% Fib retracement level of the recent decline move from the $124,420 swing high to the $115,800 low. The main target could be $121,500.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $118,000 resistance zone, it could start a fresh decline. Immediate support is near the $115,800 level. The first major support is near the $115,000 level.<\/p>\n<p>The next support is now near the $113,500 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,000, below which BTC might continue to move down.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish 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 $115,800, followed by $115,000.<\/p>\n<p>Major Resistance Levels \u2013 $118,000 and $118,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is trimming gains and trading below $120,000. BTC is now showing some bearish signs and might decline below $115,500 zone. Bitcoin started a downside correction below the $120,000 zone. The price is trading below $118,000 and the 100 hourly Simple moving average. There was a break below a key declining channel with support&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6458,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-6457","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\/6457","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=6457"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6458"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}