#BTCOvertakesAmazon

Bitcoin Price Outlook – August 12, 2025

Bitcoin is currently trading around $118,400, down modestly from an intraday high near $120,700—reflecting a slight pullback but still holding a bullish daily structure intact.

Bitcoin (BTC)$118,417.00-$2,197.00(-1.82%)

Current Market Context

Bitcoin continues to maintain support above $119K, reinforcing its upward trend. While this level remains the pivotal anchor for bullish continuity, a breakdown below could expose the cryptocurrency to deeper retracements.

Today’s decline is linked to investor caution amid pending U.S. inflation data, which could temper expectations for near-term rate cuts and weigh on risk assets like BTC.

Expert Technical Insight

Bitcoin's failure to decisively break above resistance near $122K–$123K has formed a potential double-top pattern. Should the breakdown below $119K materialize, technical analysts warn of a possible slide toward $100K.

However, resilience above $119K keeps the bullish trajectory alive. A successful retest and rebound could propel price back toward $135K, the upper boundary of the trading channel. A breakout beyond that would open the door to rapid price discovery and fresh highs. The Economic Times

Strategic Takeaway

In the short term, momentum favors further upside toward $135K, provided BTC remains above the $119K pivot. Traders should watch for a clear breakout or rejection at the channel’s upper boundary—for now, $119K is the critical level determining whether Bitcoin continues its bullish run or rotates back into a broader trading range between $100K and the channel top.