Bitcoin Price Drops to $117,465 as BTC Tests Critical Support Amid Market Volatility

Fast

• BTC that is currently being traded at $ 117,465.72 (-0.46% in 24 hours) • Bitcoin’s RSI at 58.82 suggests a neutral momentum despite recent sales pressure • Sharp $ 2,803 price decrease on 25 July creates uncertainty as a BTC price looking for instructions.

What drives Bitcoin price today?

Bitcoin is confronted with continuous pressure after the dramatic Thursday, the BTC price by $ 2,803.11 (2.43%) fell to $ 115,560.93. This sharp decrease marked one of the most important drops in one day in recent weeks, which reflects the growing uncertainty in the cryptocurrency market, because traders re-assess the appetite of the risk.

The sales pressure increased after Bitcoin fell under the psychologically important level of $ 118,000 on July 19, when BTC traded at $ 117,980.45. This breakdown meant a shift in market sentiment, whereby the BTC price struggled to maintain the momentum over important technical thresholds.

Despite the recent regulatory clarity of President Trump by signing the Genius Act on July 18, which established a framework for Stablecoins, supported by US Dollars, the positive regulatory development is overshadowed by broader market volatility. The legislation, although possibly favorable for long-term crypto-market stability, has not succeeded in offering the BTC price immediate support in the midst of the current Bearish sentiment.

BTC Technical Analysis: Mixed signals are emerging

Bitcoin technical analysis reveals a complex picture because several indicators offer conflicting signals. The BTC RSI is currently at 58.82, and places Bitcoin on neutral territory and suggests neither over -sold nor overbough conditions. This lecture indicates that although the sales pressure exists, Bitcoin has not reached extreme levels that generally indicate large reversations.

The MACD chart shows a bearish lecture of -387.4544, which indicates a weakening momentum for BTC, because the signal line remains above the MACD line. This Bearish divergence suggests that despite the overall strong bullish trend from Bitcoin, the pressure in the short term continues to build.

The position of Bitcoin with regard to important advancing averages tells an interesting story. While the BTC price above the critical 200-day SMA is traded at $ 98,437.72, so that the long-term bullish structure is confirmed, it is slightly below the 7-day SMA at $ 118,110.99, which points to the weakness in the short term. The proximity of the 20-day EMA at $ 115,218.89 suggests that Bitcoin is at a critical moment where the next move can determine in the short term.

Bitcoin -Prize levels: important support and resistance

On the basis of Binance Spot -market data, Bitcoin -support levels are clearly defined with immediate support at $ 107,429.57 and strong support at $ 98,200.00. The current BTC price of $ 117,465.72 is comfortable above these levels and offers a considerable cushion for bulls.

At the top, BTC resistance seems formidable to $ 123.218.00, which serves both immediately and a strong resistance. This level has proven to be a challenge for Bitcoin to break, as evidenced by the recent rejection and the subsequent decline.

The Bollinger tires show Bitcoin trade near the middle band at $ 116,820.66, with a %B position of 0.5495 that indicates a balanced positioning. The upper band at $ 123.332.11 closes closely with the most important resistance level, while the lower tire offers an extra context for possible support at $ 110.309.21.

Bitcoin’s daily average actual reach of $ 2,789.72 suggests a considerably volatility potential, which means that traders must expect price fluctuations of almost $ 2,800 in both directions during typical trade sessions.

Do you have to buy BTC now? Risk-willing analysis

For aggressive traders, the current BTC price presents a complex risk for scenario. The immediate support at $ 107,429.57 offers a clear stop loss level around $ 10,000 below current prices, while resistance at $ 123.218.00 offers a target about $ 5,700 higher. This creates an unfavorable risk-finding ratio for long positions of current levels.

Conservative investors can consider waiting for a break over $ 123.218.00 Resistance or a test of the support level of $ 107,429.57 for better access points. The recent volatility of the BTC/USDT pair suggests that patience can be rewarded with more favorable access options.

Swing traders must follow Bitcoin’s reaction to the 20-day EMA level of $ 115,218.89. A decisive break below this level can indicate a different disadvantage of the range of $ 110,000, while a bouncer could focus on the previous resistance near $ 123,000.

The overall “very strong bullish” trend classification suggests that all important DIPS can offer purchasing options for long -term holders, especially if Bitcoin is approaching the strong support zone around $ 98,200.00.

Conclusion

The BTC price is at a critical bending point while Bitcoin navigates between important technical levels after recent volatility. Although the wider trend bullish remains, the price company suggests the short -term warning. Traders must look forward to Bitcoin’s response to the current support levels, with a break under $ 115,000 that may be activated to $ 107,429.57. Conversely, a recovery above $ 118,000 can indicate a renewed purchase interest rate and a potential resistance test at $ 123.218.00 within the next 24-48 hours.

Image source: Shutterstock