{"id":7523,"date":"2025-10-10T05:00:20","date_gmt":"2025-10-10T05:00:20","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-correction-deepens-traders-cautious-as-downside-pressure-builds-further\/"},"modified":"2025-10-10T05:00:20","modified_gmt":"2025-10-10T05:00:20","slug":"bitcoin-correction-deepens-traders-cautious-as-downside-pressure-builds-further","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-correction-deepens-traders-cautious-as-downside-pressure-builds-further\/","title":{"rendered":"Bitcoin Correction Deepens \u2013 Traders Cautious As Downside Pressure Builds Further"},"content":{"rendered":"<p><em>Bitcoin price corrected gains and traded below the $124,000 level. BTC is now struggling and might continue to move down below $120,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction below the $123,200 level.<\/li>\n<li>The price is trading below $123,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a bearish trend line forming with resistance at $122,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might continue to move down if it trades below the $120,000 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Further<\/h2>\n<p>Bitcoin price failed to stay above the $125,000 zone and started a fresh decline. BTC dipped below the $124,000 support to enter a short-term bearish zone.<\/p>\n<p>The bears even pushed the price below $121,200. A low was formed at $119,810 and the price recently recovered some losses. There was a move toward the 50% Fib retracement level of the recent decline from the $123,750 swing high to the $119,810 low.<\/p>\n<p>However, the bears are still active near $121,750. Bitcoin is now trading below $121,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $122,750 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $121,750 level. The first key resistance is near the $122,250 level and the 61.8% Fib retracement level of the recent decline from the $123,750 swing high to the $119,810 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-836336\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/10\/Bitcoin_c8e2f6.png?resize=1024%2C493\" alt=\"Bitcoin Price\" width=\"1024\" height=\"493\" \/><\/p>\n<p>The next resistance could be $122,750 and the trend line. A close above the $122,750 resistance might send the price further higher. In the stated case, the price could rise and test the $123,500 resistance. Any more gains might send the price toward the $124,000 level. The next barrier for the bulls could be $125,500.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $122,750 resistance zone, it could start a fresh decline. Immediate support is near the $120,750 level. The first major support is near the $120,000 level.<\/p>\n<p>The next support is now near the $118,500 zone. Any more losses might send the price toward the $116,500 support in the near term. The main support sits at $115,500, below which BTC might struggle to recover in the short term.<\/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 $120,750, followed by $120,000.<\/p>\n<p>Major Resistance Levels \u2013 $122,750 and $123,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price corrected gains and traded below the $124,000 level. BTC is now struggling and might continue to move down below $120,000. Bitcoin started a downside correction below the $123,200 level. The price is trading below $123,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $122,750&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7524,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-7523","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\/7523","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=7523"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/7523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/7524"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=7523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=7523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=7523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}