Bitcoin continues to decline, dropping below the $110,000 mark. The market remains under pressure from sellers, and technical indicators point to a bearish trend.
Current Bitcoin Market Situation
On August 30, Bitcoin fell below $110,000, confirming persistent selling pressure. The current price stands at $108,526, with a market capitalization of $2.16 trillion and a trading volume of $47.69 billion over 24 hours.
Technical Indicators and Seller Pressure Levels
All observed timeframes confirm Bitcoin's bearish trend. A weak support level at $107,000 indicates that the resistance level at $114,000 remains unbroken. Technical indicators highlight a dominant selling volume.
Potential Stabilization Opportunities for Bitcoin
Despite selling pressure, some long-term moving averages signal possible stabilization. A break above $109,500 with increased volume could restore bullish momentum with an initial target around $111,000.
In the current environment, the Bitcoin market remains under pressure; however, the observed technical levels may become a starting point for possible future reversals.
