Bitcoin Price Watch: Consolidation Signals a Big Move Ahead
Main Idea
Bitcoin's price is consolidating around $117,304, with key support at $112,000 and resistance between $118,000-$118,500, signaling a potential significant move ahead.
Key Points
1. Bitcoin's price on Aug. 9, 2025, is $117,304, with a market cap of $2.33 trillion and a 24-hour trading volume of $31.5 billion.
2. The price has traded within a narrow range of $115,979 to $117,786, indicating consolidation.
3. Key support is at $112,000, while resistance is clustered between $118,000 and $118,500.
4. Short-term momentum is bullish, but a break above $118,500 could accelerate gains toward $120,000.
5. Technical indicators like RSI (56), stochastic (66), and CCI (23) show neutral readings, while moving averages signal a bullish bias.
Description
Bitcoin’s price on Aug. 9, 2025, stands at $117,304, with a market capitalization of $2.33 trillion. Over the past 24 hours, the cryptocurrency recorded a trading volume of $31.5 billion and traded within an intraday range of $115,979 to $117,786, reflecting a relatively narrow band of movement that underscores the current consolidation phase. Bitcoin In
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