The price of Bitcoin is around $115,100 today, having bounced back a little after falling toward the $112,000 support zone earlier this week. The bounce came as BTC broke out of a descending channel on the 4-hour chart, but upside remains capped by resistance around $116,000. Traders are trying to figure out if this bounce is the start of a bigger reversal or just a short-term rally.
What’s Happening With Bitcoin’s Price?
Bitcoin moved down from $123,700 to $111,700 on the 4-hour chart, then broke out upward. The price action shows that the resistance at $116,200 is being tested again, which is the same level as the 38.2% Fibonacci retracement at $116,289. After that, there was a rejection, and BTC stayed just above the $114,500–$115,000 range.
The Money Flow Index (MFI) is close to 57, which means that liquidity is balanced. The RSI on shorter timeframes is between 42 and 45, which means that the market is neutral to slightly bearish. This means that momentum is starting to stabilize after last week’s drop.
On the daily timeframe, Smart Money Concepts highlight a break of structure around $112,000, where demand absorbed selling pressure. However, repeated change of character (CHoCH) signals near $120,000 indicate that this zone has become a stubborn ceiling for bulls.
Why Bitcoin Price Going Down Today?
The reason why Bitcoin price going down today lies in both resistance pressure and derivative flows. BTC failed to sustain above $116,000 after a sharp intraday rally, with sellers re-entering at the 0.382 Fibonacci zone.
Directional Movement Index (DMI) shows ADX turning higher while -DI remains above +DI, confirming downside momentum still holds weight. Similarly, Supertrend resistance near $115,800 has yet to flip bullish, adding to the selling pressure.
Spot flow data reinforces this picture. On August 23, net outflows totaled $108.82 million, showing capital leaving exchanges. This supports the idea that short-term traders booked profits as BTC stalled near resistance.
Bitcoin Price Indicators Suggest Range-Bound Volatility
The VWAP levels on the 30-minute chart show BTC currently trading slightly below the $115,270 session average, with volatility bands pointing sideways. RSI has cooled from overbought conditions, now showing 42.14, leaving room for another bounce if buyers defend $114,500.
Meanwhile, EMAs remain tightly clustered. The 20 and 50 EMA sit just under $115,400, while the 100 and 200 EMAs hover near $115,900–$116,100. This cluster reinforces the $115,800–$116,200 region as immediate resistance. Only a clean breakout above this zone could unlock upside toward $117,700 and $119,200. Bollinger-style compression is visible after the breakout, suggesting the next 24 hours may deliver heightened Bitcoin price volatility as the market decides direction.
BTC Price Prediction: Short-Term Outlook (24h)
For the near term, Bitcoin price action is consolidating between $114,500 support and $116,200 resistance. If buyers reclaim $116,200 with volume confirmation, the next upside targets are $117,700 and $121,100, which align with Fibonacci retracements.
On the downside, failure to hold $114,500 could expose BTC to $113,000, followed by the strong demand base around $111,700. Given neutral indicators and outflow pressure, the bias remains range-bound with slight downside risk unless $116,200 breaks.
Bitcoin Price Forecast Table: August 24, 2025
| Indicator/Zone | Level / Signal |
| Bitcoin price today | $115,129 |
| Resistance 1 | $116,200 (Fib 0.382 / EMA cluster) |
| Resistance 2 | $117,700 / $121,100 (Fib targets) |
| Support 1 | $114,500 (VWAP & Fib confluence) |
| Support 2 | $111,700 (channel base demand) |
| RSI (30-min) | 42.14 (neutral to bearish) |
| MFI (4H) | 57.1 (balanced) |
| DMI | -DI leads, ADX rising (bearish) |
| Supertrend (4H) | Bearish below $115,800 |
| Spot Flows (Aug 23) | -$108.82M (outflows) |
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