The price of Bitcoin (BTC) has been trading above the $107,500 support level since August 29, but below the moving average lines.
Bitcoin price long-term prediction: bearish
The bears have retested the current support level of $107,500 twice, but the bulls have bought the dips. The 21-day SMA barrier has halted the subsequent upward momentum. Last week, the Bitcoin price traded above $107,500 but below the moving average lines.
According to the price indicator, the largest cryptocurrency will fall once it loses its current support at $107,500. On the downside, Bitcoin will fall to the 1.618 Fibonacci extension or a low of $104,974.70. Today, bitcoin price is trading at $111,950 but is stuck below the moving average lines.
Technical indicators
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Key supply zones: $120,000, $125,000, $130,000 -
Key demand zones: $100,000, $95,000, $90,000
BTC price indicators analysis
Bitcoin has been in a downtrend since the 19th of August. The BTC price is below the moving average lines and selling pressure has paused twice above the $107,500 support. The bullish momentum has reached the 21-day SMA sideways trend. A break above the 21-day SMA barrier will cause Bitcoin to rise above the moving average lines.
On the 4-hour chart, the price bars are slightly above the moving average lines but below the $114,000 mark.
BTC/USD price chart – September 8, 2025
What is the next move for Bitcoin?
BTC price is in a sideways trend after stalling above the $107,500 mark. Currently, the cryptocurrency is trading above the $108,000 support level but below the $114,000 mark. The uptrend is being held back by the $114,000 resistance level. The formation of doji candlesticks has reduced the price movement, resulting in a sideways trend.
BTC/USD price 4-hour chart – September 8, 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-struggles-below-level/
