Bitcoin Crash Alert : Selling Pressure and Key Levels to Watch
#btccrash #BTCcrash" #BTC☀ #BinanceSquareFamily
Overview :
Bitcoin currently trades at $97,350, facing significant selling pressure from long-term holders. Short positions dominate, with 61% on Binance, signaling strong resistance near the $100,000 mark. A potential drop is likely if key support levels fail.
Key Resistance and Support Levels :
Resistance Levels :
Immediate : $100,000
Psychological : $105,000
Support Levels :
First : $70,000
Critical : $66,448
Pro Tip :
Monitor short positions and on-chain data for signals of further selling pressure. If $70,000 support breaks, consider hedging positions or waiting for a more stable re-entry point.
Conclusion and Advice :
Bitcoin's current trajectory shows caution is warranted. While the $100,000 milestone draws attention, strong selling and a high volume of short positions could trigger a steep correction. Stay vigilant at support zones and adjust your strategy accordingly. Patience and risk management will be key in navigating this volatile phase.
