Yigit Taha OZTURK 
Over the weekend, Bitcoin experienced short-term fluctuations due to low trading volume. However, as the new week begins, selling pressure appears to persist. Especially with critical levels failing to hold, the market remains weak.
Is Selling Pressure Strengthening in Bitcoin?
The BTC/USD pair dropped as low as $95,700 over the weekend. While it remains uncertain whether the decline has fully played out, failing to close above $98,200 suggests that the market is still weak. With daily and weekly closes occurring at $96,000, selling pressure appears to be continuing.
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Key Support and Resistance Levels!
According to technical analysis, the most critical resistance level for Bitcoin is $98,200. If this level is not breached, the downward movement could persist. In the event of further pullbacks, $94,886 and $92,053 serve as key support levels.
In the short term, Bitcoin has a significant liquidity zone at $97,062. Breaking above this level could trigger an upward move. On the downside, the $95,374 level stands out as another notable liquidity zone.
Looking at the overall market outlook, investors should remain cautious. Increased volatility and key price level tests are expected throughout the week. If Bitcoin manages to close above $98,200, the chances of an upward trend could strengthen. Otherwise, selling pressure may persist, potentially leading to lower price levels.
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