Bitcoin (BTC) Price Prediction for August 17, 2025: Key Support at $116K Tested as Bulls Defend Uptrend

2d ago•

bullish:

bearish:

The Bitcoin price today is holding around $117,600, showing mild losses on the session after a volatile dip to $116,500. Price action continues to oscillate within an ascending channel structure that has guided BTC higher since March. Despite the broader bullish bias, rejection from the $122,500 zone earlier this week has left buyers struggling to reclaim momentum, while exchange flows hint at distribution pressure.

What’s Happening With Bitcoin’s Price?

*BTC price dynamics (Source: TradingView)*

On the daily chart, BTC remains inside a rising channel, with the midline near $117,200 currently acting as pivot support. The structure remains bullish as long as price stays above $113,500, the lower channel boundary. RSI holds near 55, suggesting neutral momentum, while the True Strength Index has flattened around 10, showing waning bullish drive after weeks of gains.

The 4-hour chart highlights BTC trading between dynamic support at the 200 EMA ($116,380) and resistance at the 50 EMA ($118,447). Bollinger Bands are tightening around $117,700, signaling compression ahead of a volatility expansion.