Bitcoin continues to struggle during one of its historically strongest months, often referred to as “Uptober,” which is currently down more than 5% and trading below $108,000, as it approaches several critical support and resistance levels.
The 200-day simple moving average (200SMA), a key indicator that often separates bull and bear markets, now sits at $107,846 and acts as immediate resistance.
Since the 2023 cycle began, bitcoin has primarily held this level as support, but fell below it in the summers of 2023 and 2024 and again in April 2025. The 365-day SMA, which provides a broader view of long-term momentum and sits at $100,367, has consistently served as secondary support when the 200DMA fails. This is the fourth time this cycle that the price of bitcoin has fallen between these two averages, a range-bound setup that can last for months.
Additional key levels include $103,509, the average investor cost base of 2025 based on Checkonchain data. This serves as an important price floor as well as the $100,000 psychological support level anchoring market sentiment.
On the positive side, $112,100 represents the short-term cost basis, reflecting the average on-chain acquisition price of coins moved over the past six months.
Historically, bitcoin has fallen below this level during corrections, but sustained trading above it usually indicates the resumption of a bull market.
