Iris Coleman
October 6, 2025 1:55 PM
Bitcoin is trading at $124,682 with a daily gain of 1.28%, approaching critical resistance near $125,708, while RSI readings of 72.8 suggest overbought momentum may be pausing.
Market overview
Bitcoin maintains its bullish trajectory at $124,682, posting a modest gain of 1.28% over the past 24 hours. The leading cryptocurrency continues to trade well above its major moving averages, with the current BTC price standing 17.8% above the 200-day simple moving average at $105,880. Trading volume reached $1.85 billion, indicating sustainable institutional and retail interest as Bitcoin approaches a critical technical juncture.
Technical image
The technical landscape for BTC presents a mixed but largely bullish outlook. The relative strength index has risen to 72.8, firmly in overbought territory above the 70 threshold, suggesting potential for near-term consolidation or pullback. However, the MACD indicator remains constructively bullish with a positive histogram reading at 1,289, indicating that momentum continues to favor buyers despite elevated RSI levels.
Bitcoin’s position against the moving averages reinforces its underlying strength. The BTC/USDT pair is trading 7.5% above the 20-day SMA at $115,937 and 9.4% above the 50-day SMA at $113,979. This technical structure generally supports continued upward pressure, although the distance from these key averages suggests that some consolidation could be healthy for sustainable momentum.
Critical levels to watch
The immediate resistance zone at $125,708 represents the main technical hurdle to Bitcoin’s continued progress. A decisive break above this level could trigger additional buying interest and target the psychological level of $130,000. Conversely, failure to break this resistance could result in profitable traders being positioned ahead of the recent rally.
On the downside, initial support emerges at $123,986, which aligns with the recent pivot level. More substantial support lies at $108,620, which represents a key technical floor that has provided purchasing interest in previous tests. The deeper support at $107,255 would mark a more important retracement that could attract longer-term accumulation.
Market sentiment
Despite the absence of major news catalysts in recent sessions, Bitcoin’s steady advance reflects underlying institutional demand and reduced selling pressure. The 24-hour trading range between $122,301 and $124,975 shows relatively contained volatility, suggesting market participants remain comfortable with current valuation levels.
The daily volume of $1.85 billion indicates healthy liquidity conditions, although this figure represents a moderate level compared to periods of increased volatility. This volume profile supports current price action without signaling exhaustion or excessive speculation.
Trade perspective
Short-term traders should monitor the $125,708 resistance level for potential breakout opportunities, while maintaining awareness of the overbought RSI condition that could cause temporary weakness. A break above resistance on strong volume would validate the continuation of the bullish trend, while rejection at this level offers short-term profitable opportunities.
For longer-term investors, the current technical setup remains constructive with Bitcoin trading well above major moving averages. However, prudent risk management suggests monitoring for any break below $108,620, which would indicate a possible shift in the medium-term trend structure.
Bottom line
Bitcoin’s approach to $125,708 resistance amid overbought conditions creates a critical inflection point where technical momentum meets potential profitable pressures.
For the latest BTC price updates and bitcoin analysis, be sure to mention major support and resistance levels.
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