Bitcoin right this moment holds round $117,600, indicating delicate losses within the session after dropping volatility to $116,500. Value motion continues to vibrate inside the ascending channel construction that has led BTC excessive since March. Regardless of wider bullish bias, the refusal from the $122,500 zone earlier this week brought about patrons to battle to regain momentum.

What is going to occur to Bitcoin costs?

On the every day chart, BTC stays inside the ascending channel, with the present midline of almost $117,200 at the moment serving as pivot assist. So long as the value is above $113,500, the construction stays bullish. The RSI holds near 55, suggesting impartial momentum, however the true energy index flattens round 10 or so, indicating a bullish drive that has declined after weeks of revenue.

The 4-hour chart highlights the BTC commerce between dynamic assist at 200 EMA ($116,380) and resistance at 50 EMA ($118,447). The Bollinger band tightens round $117,700 and indicators compression previous to increasing volatility.

Why is Bitcoin value dropping right this moment?

The provision zone, flagged by a number of rejections at $122,000-122,500 and Fibonacci 0.382 resistance, additionally contributes to the short-term weak point in Bitcoin costs. The SuperTrend indicator has strengthened this strain and is bearished by lower than $121,000. In the meantime, the DMI measurements verify a cautious surroundings, with -DI barely above Di at 26.8 and 24.6 indicating that the vendor holds the marginal edge.

The change circulate provides weight to the unfavorable aspect bias. On August sixteenth, Spot Netflows confirmed a leak of -$47.1 million. This displays income and distribution through the interval of energy. This unfavorable pattern limits the upside-down momentum, explaining why BTC struggles to retest the $120,000 stage.

Technical indicators spotlight necessary inflection zones

The short-term construction of BTC is outlined by cluster assist between $116,500 and $117,200. The band contains 200 EMA, trendline assist from July, and a Pivot Level S3 ($117,291). Preserving this space is necessary to forestall additional downsides.

Fibonacci’s retracement ranges mark $119,300 (0.5) and $120,800 (0.618) as key-up aspect hurdles. In case you can clear these hurdles, you could possibly doubtlessly attain $122,500, and even $124,500. Conversely, as a result of they have been unable to defend $116,500, BTC can be revealing a variety of assist clusters of $113,500 (PF1 Month-to-month Pivot) and $112,300.

With Bollinger Band Squeeze Tainting and MFI sitting at 55, the stage is about to a breakout occasion.

BTC value forecast: Brief-term outlook (24 hours)

For August seventeenth, short-term predictions depend on whether or not BTC will be stabilized above $116,500. If the Bulls maintain this zone, their subsequent targets have been $119,300 and $120,800, with the breakout rising the up to date bull momentum of signaling, above $122,500 to $124,500.

On the draw back, dropping $116,500 dangers a fast slide to $113,500, with deeper assist being $112,300 and $108,700. Given the oversupply of $122,000 and rising gross sales flows, merchants ought to monitor quantity checks earlier than positioning.

Bitcoin Value Prediction Desk: August 17, 2025