Bitcoin $BTC Under Pressure – Down 4.36%: Is More Selling Ahead?
Bitcoin (BTC) is facing selling pressure, with BTC/USDT trading around $68,784.40, down 4.36% in 24 hours.
The current 15-minute chart shows that buyers are struggling to regain control. Bitcoin is trading below its MA(7), MA(25), and MA(99), indicating short-term weakness.
Market Overview
- Current Price: $68,784.40
- 24H Change: -4.36%
- 24H High: $71,918.20
- 24H Low: $67,449.00
- RSI (6): 47.2
- 24H Trading Volume: $19.23 Billion
Important Support Levels
- $68,256 – Immediate support
- $67,449 – Major recent support
Important Resistance Levels
- $68,940 – Near-term resistance
- $69,200 – Important recovery level
- $69,800 – Stronger resistance area
What Could Happen Next?
If BTC fails to break above $68,940–$69,200, selling pressure could continue, potentially bringing the price back toward $68,256 and $67,449.
However, if Bitcoin successfully breaks above $69,200 and holds that level, buyers may attempt a recovery toward $69,800.
Trading Strategy & Risk Management
Avoid entering a trade just because the market is red. Wait for candle confirmation and a clear breakout or rejection.
- Short Setup: Consider only after confirmed rejection near resistance.
- Long Setup: Consider only after a confirmed breakout and successful retest.
- Stop Loss: Always set a stop loss according to your entry and risk tolerance.
- Avoid excessive leverage, especially during volatile market conditions.
Final Thoughts
Bitcoin is currently showing short-term weakness, but a further decline is not guaranteed. Smart traders should focus on confirmation, capital protection, and patience rather than chasing the market.
This is technical analysis, not a guaranteed trading signal. Always do your own research before entering a position.
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