Yigit Taha OZTURK 
In the last 24 hours, the crypto market saw intense volatility, with Bitcoin leading the decline. This sharp move also triggered significant pullbacks in altcoins, shaking investor confidence.
Sideways Expectation Shattered By Strong Selling
The market was initially expecting a period of sideways action due to Tether Dominance being squeezed between key support and resistance zones. However, contrary to expectations, a wave of strong selling hit the market, driving Bitcoin lower.
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From a technical perspective, further downside pressure is likely in the short term. The price is approaching the $115,202 – $113,766 zone, which contains a Fair Value Gap (FVG). This area is seen as a potential support zone. If filled successfully, it could serve as a base for an upward rebound.
Resistance Zone Now In Focus
Should buyers regain control and market sentiment stabilize, Bitcoin could aim for a recovery. The next key resistance levels are located at $121,396 – $120,494. A breakout above this region would improve technical momentum and potentially signal a reversal.
Despite the uncertainty, traders are advised to closely monitor these levels. Both support and resistance areas will play a crucial role in shaping upcoming price action.
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