$BTC Bitcoin (BTC/USDT) Faces Strong Selling Pressure – Is a Reversal Near?
Bitcoin is currently trading around $68,186, showing a slight daily change of -0.02% on the 1D timeframe. The chart reflects a clear short-term downtrend after facing rejection near the $97,900 zone.
📉 Market Overview
Over the past few weeks, $BTC has been forming consistent lower highs and lower lows, confirming bearish momentum. After peaking near $97K, the market experienced strong selling pressure, pushing price down toward the $60,000 psychological support level.
A sharp drop recently tested the $60K zone, where buyers stepped in aggressively, forming a strong green recovery candle. This indicates that $60,000 is currently acting as a major support level.
🔎 Key Levels to Watch
Support Zones:
$60,000 – Major psychological and structural support
$58,000 – Previous consolidation area
Resistance Zones:
$72,000 – Immediate resistance
$85,900 – Strong supply zone
$99,800 – Major resistance / previous high
If Bitcoin holds above $60K, we could see a short-term relief rally toward $72K. However, failure to maintain support may trigger further downside pressure.
📊 Market Sentiment
The recent price action shows:
Bearish momentum still dominant
Buyers defending lower support
Volatility increasing near key levels
Traders are now watching for confirmation:
A break above $72K may shift momentum bullish.
A break below $60K could open the door toward $55K–$52K levels.
💡 What’s Next?
Bitcoin is at a decision zone. The market is consolidating after a strong drop, and the next few daily candles will likely determine short-term direction. Volume confirmation will be critical for any breakout or breakdown.
For now, patience and risk management remain key.