{"id":5988,"date":"2025-07-22T05:00:23","date_gmt":"2025-07-22T05:00:23","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-consolidates-is-a-downside-correction-on-the-horizon\/"},"modified":"2025-07-22T05:00:23","modified_gmt":"2025-07-22T05:00:23","slug":"bitcoin-price-consolidates-is-a-downside-correction-on-the-horizon","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-consolidates-is-a-downside-correction-on-the-horizon\/","title":{"rendered":"Bitcoin Price Consolidates\u2014Is a Downside Correction on the Horizon?"},"content":{"rendered":"<p><em>Bitcoin price is consolidating gains below the $118,000 resistance. BTC could start a downside correction if it breaks the $116,200 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline after it failed to clear 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 is a bearish trend line forming with resistance at $118,000 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 Again<\/h2>\n<p>Bitcoin price started a correction after the bulls failed to clear the $120,000 resistance. BTC dipped below the $118,000 level and tested the $116,200 zone.<\/p>\n<p>A low was formed at $116,260 and the price is now attempting a fresh increase. The bulls were above to push the price above the $117,000 resistance level. There was a move toward the 50% Fib retracement level of the downward move from the $119,630 swing high to the $116,260 low.<\/p>\n<p>Bitcoin is now trading below $118,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $118,000 level. There is also a bearish trend line forming with resistance at $118,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first key resistance is near the $118,400 level. It is close to the 61.8% Fib level of the downward move from the $119,630 swing high to the $116,260 low. The next resistance could be $119,150.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-791776\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/07\/Bitcoin_97559f.png?resize=1024%2C479\" alt=\"Bitcoin Price\" width=\"1024\" height=\"479\" \/><\/p>\n<p>A close above the $119,150 resistance might send the price further higher. In the stated case, the price could rise and test the $120,500 resistance level. Any more gains might send the price toward the $122,000 level. The main target could be $123,200.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $118,400 resistance zone, it could start another decline. Immediate support is near the $116,200 level. The first major support is near the $115,500 level.<\/p>\n<p>The next support is now near the $115,500 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $111,200, 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 $116,200, followed by $115,500.<\/p>\n<p>Major Resistance Levels \u2013 $118,000 and $120,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating gains below the $118,000 resistance. BTC could start a downside correction if it breaks the $116,200 support zone. Bitcoin started a fresh decline after it failed to clear the $120,000 zone. The price is trading below $118,000 and the 100 hourly Simple moving average. There is a bearish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5989,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-5988","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:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/5988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=5988"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/5988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/5989"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=5988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=5988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=5988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}