Islamabad, Aug 12, 2025: Bitcoin price is correcting after touching the $122,250 zone, with traders watching the $120,500 resistance closely for the next move.
BTC recently rebounded from $115,500, pushing past $117,500 and $118,800 before breaking $120,500 and testing $122,250. However, the price failed to hold gains, slipping below $120,500 and breaking a key bullish trend line at $119,500 on the hourly chart.
Currently, BTC trades above $118,000 and the 100-hourly Simple Moving Average. Immediate upside resistance sits at $119,250, with the major hurdle at $120,500. A decisive close above this level could trigger a rally toward $121,250, followed by $123,200 and even $125,000.
On the downside, support lies near $118,200, followed by $117,800 and $116,550. Deeper declines could retest $115,500, with stronger support at $113,500.
READ MORE: Bitcoin Hits $120,000 for the First Time
Technical indicators show the hourly MACD losing momentum in bullish territory, while the RSI has dropped below 50, signaling caution. Traders will be eyeing the $120,500 resistance level as a key decision point for Bitcoin’s short-term trend.
A breakout above it could invite further gains, while rejection may lead to another correction.
