Bitcoin (BTC) Prepares for the Next Jump, Will it Reach a New Record?

Updated

July 18, 2025

Gambar Bitcoin (BTC) Prepares for the Next Jump, Will it Reach a New Record?

Jakarta, Pintu News – Bitcoin recently experienced a correction from its all-time high of $123,200. Currently, the cryptocurrency is in a consolidation phase below $120,000, leading to speculation about its next big move. Will Bitcoin (BTC) continue its rise or face further declines?

Bitcoin Price Correction

Bitcoin (BTC) started a downward correction after reaching a new peak at $123,200. The price dropped below the $122,000 and $120,000 support levels, entering a short-term bearish zone. The decline reached below the 23.6% Fibonacci retracement level of the previous rise that started from a low of $108,636 to a high of $123,140.

However, the price drop was limited and Bitcoin (BTC) found support in the $115,800 zone. The price is currently below $119,500 and the 100 hourly simple moving average. There is also an ascending channel formed with support at $118,200 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $119,200 level, with the first key resistance at $119,500 and the next at $120,000.

Also Read: XRP Price Surges Again: Momentum Rising, Eyeing Key Resistance

Bitcoin Price Increase Potential

If Bitcoin (BTC) manages to break the $120,000 resistance, there is a chance that the price will go higher. A close above this resistance could push the price towards $121,200 and possibly reach $122,000. The next major target is a return to the $123,200 peak. This rally will depend on various technical and broader market factors, including investor sentiment and global market dynamics. Technical indicators such as MACD and RSI will provide further clues on the strength of the current trend.

Risk of Further Decline

Conversely, if Bitcoin (BTC) fails to break the $120,000 resistance zone, the price may continue to fall. Immediate support is at $118,200, followed by major support at $116,500. Further support is at the $115,500 zone, and if the decline continues, the price could head to $113,500 support in the short term.

The key support is at $110,500, below which, Bitcoin (BTC) may continue to decline. The MACD indicator losing momentum in the bearish zone and the RSI below the 50 level add concerns about a potential further decline.

Conclusion

With various factors affecting the market, investors and observers should remain vigilant on Bitcoin (BTC) price movements. Whether it will reach a new record or experience a further decline, time will tell.

Also Read: $2 Billion Fresh Money Injection, Bitcoin Ready to Fly Again? Analyst: Big Crypto Rally Signals!

That’s the latest information about crypto. Follow us on Google News to get the latest information about the world of crypto and blockchain technology. Check today‘ s bitcoin price, today’s solana price, pepe coin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.