October 17, 2025
Main Highlights
- Bitcoin experienced a slight rally on Thursday, approaching the $112,000 resistance level.
- The $112,000 mark is significant due to prior momentum loss and its status as a round figure.
- A key indicator to watch is the 200-day Exponential Moving Average (EMA) below the current price.
- The short-term technical outlook for Bitcoin appears challenging, though the long-term trend remains sideways.
- Correlation with the NASDAQ 100 and overall market risk appetite are expected to influence Bitcoin’s price action.
Technical Analysis
The Bitcoin market showed a slight upward movement during Thursday’s trading session, testing the significant $112,000 level. This price point represents a notable area of potential resistance due to the previous pullback in momentum from this level and its nature as a round psychological figure. 💡
However, a critical factor for Bitcoin traders to monitor is the 200-day Exponential Moving Average (EMA) situated below the current price. A breach below this level could signal a significant negative turn for Bitcoin. 📉
The short-term technical picture for Bitcoin appears somewhat concerning. However, over the longer term, the market is still consolidating within a sideways range. As long as Bitcoin can maintain its position above the $108,000 level, there remains a possibility for continued sideways movement. 📊
The $116,000 level has recently acted as resistance, and the $115,000 level coincides with the 50-day EMA. Breaking decisively through both these levels would indicate a strongly bullish scenario. Nevertheless, considering that the majority of recent trading volume has been on the downside, significant bullish momentum for Bitcoin is not strongly anticipated in the immediate future. This does not necessarily imply an imminent collapse, but rather a lack of catalysts for substantial upward price action soon. 📌
Traders should anticipate volatility in the Bitcoin market. Additionally, the performance of the NASDAQ 100 is expected to exert considerable influence on BTC/USD. This correlation is partly due to Bitcoin’s tendency to move in line with technology stocks, which are significant drivers of both the NASDAQ 100 and the S&P 500. ⚡
Overall market risk appetite will continue to be a key determinant, requiring traders to closely observe various market trends. If Bitcoin can rally from current levels and reclaim the $110,000 mark, it could be interpreted as a sign of stabilization, even if not a major bullish breakout. ✅
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Christopher Lewis, a seasoned trader with over 20 years of experience in financial markets, specializing in Forex and commodities, provides this analysis. Chris has contributed to Daily Forex, FX Empire, Investing.com, and his own site, The Trader Guy. His approach heavily relies on technical analysis for identifying trades, often employing a longer-term trading style that can extend for days or weeks.
Fundfa Insight
This analysis highlights Bitcoin’s current struggle at key resistance levels, with the 200-day EMA serving as a critical support to watch. While short-term prospects appear challenging, maintaining ground above $108,000 could signal a continued sideways trend, heavily influenced by broader market sentiment and tech stock performance.