The price of Bitcoin (BTC) has fallen, but has remained above $108,000 since August 29.
Bitcoin price long-term prediction: bearish
Bitcoin is expected to fall further after falling below the moving average lines. Currently, the upside correction is rejected at the $112,000 level.
Bitcoin will resume its positive momentum once it breaks the $112,000 level and rises above the moving average lines. The bearish momentum will resume once the cryptocurrency drops from its recent high and falls below the $108,000 support. This will result in Bitcoin falling to a low of $105,000. Furthermore, the price indication predicts a drop to a low of $104,974.70 or the 1.618 Fibonacci extension.
BTC price indicators analysis
The price bars are below the horizontal moving average lines. The 21-day SMA is lower than the 50-day SMA, suggesting that the cryptocurrency could fall further. Given the recent upward correction, the price bars on the 4-hour chart are now above the moving average lines. The extended candlestick wicks pointing to the $112,000 threshold indicate a strong rejection.
Technical indicators
Key supply zones: $120,000, $125,000, $130,000
Key demand zones: $100,000, $95,000, $90,000
BTC/USD price 4-hour chart – September 2, 2025
What’s the next move for Bitcoin?
The price of Bitcoin is rising on the 4-hour chart as it rises above the moving average lines. Currently, the cryptocurrency is rejected at the $112,000 mark.
However, Bitcoin is oscillating between the support at $107,000 and the barrier at $112,000. Bitcoin will perform if the range is broken.
BTC/USD price daily chart – September 2, 2025
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/bitcoin-recovers-but-hits/
