Bitcoin Does the Nosedive Tango-Will Your Wallet Applaud or Faint? 🤯

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Oh, look, Bitcoin has decided to impersonate a skydiver without a parachute, currently flirting with sub-$120,000 altitudes while humming “Don’t Stop Me Now” in a minor key. Should we clap? Panic? Make toast? 🍞

  • Bitcoin kicked off a perfectly choreographed downward shimmy from its all-time high of roughly $124,000, apparently mistaking gravity for a polite suggestion.
  • The price now resides somewhere south of $118,000 and the 100-hour Simple Moving Average, which sounds like a very complicated way of saying “it’s gone a bit wobbly.”
  • A key declining channel-picture a waterslide that forgot it was supposed to be fun-broke at $116,200, according to the ever-reliable Kraken data feed, which is basically a vending machine for numbers that may or may not ruin your afternoon.
  • If Bitcoin can muster the energy to vault over $118,500, it might just redeem itself and climb toward $119,200, $120,000, or even the mythical $121,500-like a toddler reaching for the cookie jar on the top shelf.

Bitcoin’s Latest Mood Swing

After peaking at $124,000, Bitcoin apparently remembered it left the stove on and sprinted downward in a panic. It slipped beneath $120,000, then $118,500, then the 100-hour SMA, collecting bearish souvenirs at every stop. The $115,800 zone waved hello as Bitcoin crash-landed into it, probably asking, “Why didn’t you just take the elevator?”

Now it’s lounging below the 23.6% Fib retracement level, which is market-speak for “it’s sulking.” Immediate resistance loiters around $116,850, followed by $118,000 and $118,500-three bouncers guarding the VIP lounge of higher prices. If Bitcoin flashes a fake ID and gets past $118,500, expect it to saunter toward $119,200, then $120,000, and possibly $121,500, where it can brag about its comeback story over tiny artisanal cocktails.

Will Bitcoin Keep Sliding or Buy New Shoes?

If Bitcoin can’t leap the $118,000 hurdle, it may decide to continue its impromptu limbo contest. First safety net: $115,800. Second: $115,000. Third: $113,500. Fourth: $112,500. Fifth-well, $110,000 is basically the floor, though floors in crypto have the structural integrity of wet cardboard. Below that, it’s a free-fall into the existential abyss, where you can wave at the ghost of your 2021 self.

Technical indicators, translated for humans:

Hourly MACD – The Moving Average Convergence Divergence is currently cosplaying as a bear in a china shop. 🐻

Hourly RSI – The Relative Strength Index is sulking below 50, the financial equivalent of your Wi-Fi signal dropping to one bar. 📶

Major Support Levels: $115,800, $115,000 (a.k.a. the “please hold my beer” zones).

Major Resistance Levels: $118,000, $118,500 (a.k.a. the “prove you’re not just here for the memes” checkpoints).

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2025-08-18 06:24