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Bitcoin in Precarious Position as BTC Price Penetrates Bullish Trendline
Technical indicators suggest a bearish shift, with the weekly stochastic oscillator signaling a possible correction.
Updated Aug 18, 2025, 2:09 p.m. Published Aug 18, 2025, 11:51 a.m.
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What to know:
- Bitcoin has dropped over 7% since reaching record highs above $124,000,
- Technical indicators suggest a bearish shift, with the weekly stochastic oscillator signaling a possible correction.
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin remains susceptible to further downside, having lost over 7% since hitting record highs above $124,000 on Thursday.
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Bullish momentum fading
The weekly chart (candlestick format) shows that BTC's ongoing decline follows repeated bull failure to secure a foothold above $122,056, the Fibonacci golden ratio. It also marked the inability to keep gains above the significant long-term resistance trendline that connects the bull market highs of 2017 and 2021.
Additionally, the weekly stochastic oscillator has rolled over from the overbought zone above 80, signaling a potential correction ahead.
Daily chart
On the daily chart, BTC’s latest candle has broken below the bullish trendline extending from April lows, following Friday’s bearish outside-day candle that signaled a potential shift toward seller dominance.
Together, these technical signals indicate an increasing downside risk for BTC in the near term, with a potential retest of $11,982, the point from which the market turned higher on Aug. 3. A violation of this level would shift focus tothe 200-day simple moving average at around $100,000.
A potential reversal higher to above $118,600 (Sunday's high) during the day ahead would weaken the bear case.
- Resistance: $120,000, $122,056, $124,429.
- Support: $111,982, $105,295 (the 31.8% Fib retracement of April-August rally), $100,000.
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Abu Dhabi wealth funds bitcoin ETF holdings topped $1 billion at end of 2025
Both Mubadala Investment Company and Al Warda Investments lifted investments in BlackRock's iShares Bitcoin ETF (IBIT) in the fourth quarter.
Yang perlu diketahui:
- Two major Abu Dhabi investment firms, Mubadala Investment Company and Al Warda Investments, increased their holdings of BlackRock’s iShares Bitcoin Trust (IBIT) in the fourth quarter of 2025 as bitcoin’s price fell.
- Mubadala lifted its IBIT stake to 12.7 million shares and Al Warda to 8.2 million shares.
- Together, they held a combined position that exceeded $1 billion at the end of 2025 but has since declined to just over $800 million amid further bitcoin losses in 2026.
