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? BTC price dynamics (Source: TradingView) 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. BTC price dynamics (Source: TradingView) On the daily timeframe, Smart Money Concepts highlight a break… The post Bitcoin (BTC) Price Prediction for August 24, 2025: Will BTC Break $116,200 Resistance Or Slide Back Toward $113,000? appeared first on Coin Edition .
