Bitcoin On the daily chart, bitcoin continues

Bitcoin

BTC

$116,021

(-0.51%)

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ETH

$4,511

(+0.38%)

Bitcoin Price Watch: Technical Tension Builds Near $117K Resistance

Bitcoin Price Watch: Technical Tension Builds Near $117K Resistance

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WRITTEN BY

Jamie Redman

Jamie Redman

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Bitcoin opened the Sept. 17 session at $116,276 with a total market capitalization of $2.31 trillion and a 24-hour trading volume of $43.10 billion. During the session, the price moved within an intraday range of $114,866 to $117,292, reflecting both bullish resilience and selling pressure at higher levels.

Bitcoin

On the daily chart, bitcoin continues to consolidate just below the $117,500 resistance area after recovering from a local low of $107,270. While the recent climb appears technically constructive, declining volume throughout the rally suggests that bullish momentum is waning.

Key support remains near the $112,000 to $114,000 region, where a pullback could attract renewed buying interest. Traders may consider waiting for a dip into this range with a strong bullish reversal before initiating long positions. A breakout above $117,500 would need to be accompanied by high volume to confirm strength.

Bitcoin Price Watch: Technical Tension Builds Near $117K Resistance

BTC/USD 1-day chart via Bitstamp on Sept. 17, 2025.

The 4-hour bitcoin chart reveals a more cautious outlook following a swift rally from $114,137 to $117,323. A bearish engulfing candle has appeared after the recent top, accompanied by a red volume spike, indicating strong overhead resistance and the possibility of a near-term correction. The $115,200 to $115,500 area could serve as a short-term bounce zone if buying pressure returns, but the absence of follow-through above $117,000 may limit upside potential in the immediate term. Unless price action clears recent highs with volume support, the bias remains cautious.