#Bitcoin Price Analysis and Market Situation

Hello everyone, I was on vacation this week and wasn't around much. I enjoyed some time by the sea.

#BTC is moving sideways in the $53,000 - $59,000 range, and the uncertainty continues. The $58,000 - $59,000 range has been tested three times but has not been surpassed yet. We are seeing the impact of sales from Germany. Although these sales are not very large, the news value creates additional selling pressure, amplifying the effect by three to four times.Whales have not made any sales so far; in fact, after the $56,000 support was lost, they increased their holdings by making purchases. This can be seen in the charts, indicating that the sales are not coming from whales. Additionally, #ETF investors have not made any sales, and we saw a net inflow of approximately $300 million yesterday. Despite the declines, ETF investors and whales continue to hold their assets without selling.

The loss of the MA200 and the recent closes below the wick were negative, and the market has not found a clear direction yet. There is volatile price action due to the sales from Germany. Even if the price closes above $56,000, inconsistent sales from Germany can cause it to close below this level the next day. Therefore, trading based on the $56,000 level might lead to unnecessary stops. In this process, it would be more sensible to follow the break of the short-term resistance at $59,000.

In my own assessment, the current market situation requires caution. The fact that whales and ETF investors are not selling indicates that the market remains fundamentally strong. However, the volatility caused by sales from Germany makes short-term trades risky. For long-term investors, such declines could present buying opportunities. If the price breaks the $59,000 resistance, a new upward trend might begin.

Wishing everyone a great day and profitable trading.$BTC $NOT