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Bitcoin $112K support is under pressure as crypto markets plunge ~3.8%, with BTC testing $111,986 intraday and sellers dominating. Technical indicators—RSI at 44, ADX at 17 and price below the 50-day EMA—suggest increased downside risk for Bitcoin $112K support in the near term.
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BTC testing $112K support; sellers dominant
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Ethereum fell 7% to ~$4,083 with RSI near 40 and a Squeeze Momentum “on” signal.
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Overall crypto market down ~3.8% to under $4 trillion; Dogecoin worst of top 10, down ~10%.
Bitcoin $112K support under siege as crypto markets plunge ~4%; read the key levels, technical signals, and concise market takeaways to act fast.
What is causing Bitcoin $112K support to be tested?
Bitcoin $112K support is being tested after BTC opened near $115,275 and slid to a low of $111,986, bringing the market down ~3.8% overall. Short-term momentum indicators (RSI 44, ADX 17) and price trading below the 50-day EMA point to weakening bullish conviction and elevated downside risk.
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How severe is the market drop and what broader signals matter?
The overall crypto market shed roughly 3.8%, slipping below a $4 trillion market cap while tradfi gauges like the S&P 500 remain near highs. The Crypto Fear and Greed Index sits at 45—neutral but down—indicating sentiment erosion. These macro and sentiment divergences increase the probability of continued crypto weakness.
What do technical indicators say for Bitcoin, Ethereum, and Dogecoin?
Technical readings across major assets show a mixed but cautious picture: momentum has weakened and trend strength is low for BTC and ETH, while DOGE retains a trend signal but still faces heavy selling pressure.
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| Asset |
Price / Move |
RSI |
ADX |
Immediate Support |
| Bitcoin (BTC) |
$112,769 (intraday low $111,986) • -2.2% |
44 |
17 |
$111,000 |
| Ethereum (ETH) |
$4,082.96 • -7% |
40 |
17 |
$4,080 |
| Dogecoin (DOGE) |
$0.23 • -10% |
46 |
28 |
$0.22 |
How should traders interpret the indicators?
RSI readings below 50 for BTC and ETH indicate seller control but not yet oversold; algorithmic buying often arrives under 30. ADX below 20 signals weak trend strength and choppy trading, raising the risk of violent whipsaws. For ETH, a Squeeze Momentum “on” during a selloff suggests a forthcoming explosive move—more likely down given current context.
What are the key levels traders should watch?
- Bitcoin: Immediate support $111,000; strong support $108,500; immediate resistance $115,000; strong resistance $118,000.
- Ethereum: Immediate support $4,080; strong support $3,500; immediate resistance $4,450; target resistance $5,000.
- Dogecoin: Immediate support $0.22; strong support $0.20; immediate resistance $0.24.
Why does sentiment matter now?
Market odds on prediction markets such as Myriad (prediction market referenced as plain text) show falling confidence: BTC odds of staying above $105K are still high at 85%, but probability of hitting $105K before a new ATH has risen to 56%. For ETH, odds of $5,000 this year dropped from ~92% in August to ~64% today—a clear sentiment shift.
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Frequently Asked Questions
Will Bitcoin close September red again?
September historically trends weaker and BTC is currently ~4% from a red monthly candle. Technical weakness and sentiment suggest a red close is possible, but month-end volatility and potential macro catalysts could change the outcome.
How can I protect positions during this selloff?
Use tight risk management: reduce leverage, set clear stop-loss levels near key supports, and avoid entering new long positions until momentum indicators (RSI rising above 50 and ADX above 25) confirm trend recovery.
How-to: How to read these charts during a selloff
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Key Takeaways
- BTC under pressure: $112K is a critical short-term support; trading below the 50-day EMA raises downside risk.
- Momentum weakened: RSI and ADX readings point to seller control and low trend strength for BTC and ETH.
- Risk management: Avoid high leverage, watch $111K/$108.5K for BTC and $4,080/$3,500 for ETH; use stop-losses.
Conclusion
Crypto markets plunged ~3.8% as Bitcoin tested the $112K support mark and Ethereum lost steam. Technical signals—RSI, ADX, EMA alignments—and sentiment indicators like the Crypto Fear and Greed Index and Myriad market odds suggest caution. Monitor the listed key levels and apply disciplined risk management. For continuing coverage and updates, follow COINOTAG’s market reports.
Disclaimer: The views and opinions expressed are informational and do not constitute financial or investment advice.
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Author: COINOTAG | Published: 2025-09-22 | Updated: 2025-09-22
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