The post Bitcoin Consolidates Around $121K as Technical Indicators Signal Neutral Momentum appeared on BitcoinEthereumNews.com.

Jessie A Ellis
Oct 10, 2025 04:24

Bitcoin trades at $121,333 down 0.74% in 24 hours, holding above key moving averages while RSI suggests sideways action could continue near critical resistance levels.

Market Overview Bitcoin is trading at $121,333.74, down 0.74% over the past 24 hours as the cryptocurrency consolidates within a defined range. The BTC price has maintained its position above all major moving averages, with the 24-hour trading range spanning from $119,651.47 to $123,762.94. Volume remains robust at $2.59 billion, indicating sustained institutional and retail interest despite the sideways price action. Technical Picture The technical landscape presents a mixed but cautiously optimistic outlook for Bitcoin. The RSI reading of 59.1 sits comfortably in neutral territory, suggesting neither overbought nor oversold conditions and room for movement in either direction. This positioning typically indicates potential for continued consolidation or a measured breakout rather than explosive price action. The MACD indicator shows bullish characteristics with a positive histogram reading of 490.0152, signaling that upward momentum remains intact despite the recent pullback. Bitcoin’s position relative to its moving averages reinforces this bullish undertone, trading 3.6% above the 20-day SMA at $117,075.55, 5.9% above the 50-day SMA at $114,613.40, and notably 13.8% above the critical 200-day SMA at $106,610.92. Critical Levels to Watch The immediate resistance level at $126,199.63 represents the primary technical hurdle for any upward continuation. A decisive break above this level could signal renewed bullish momentum and potentially target higher resistance zones. This level has acted as a ceiling during recent trading sessions and will likely attract significant selling pressure. On the downside, initial support emerges at $108,620.07, representing a substantial 10.5% decline from current levels. This support zone aligns with previous consolidation areas and could provide a strong foundation for any…

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Filed under: News - @ October 11, 2025 10:23 am