Recent analysis indicates Bitcoin continues to experience downward pressure from persistent sellers, which may impact its short-term dynamics.
Persistent Seller Pressure
Recent analysis by Skew Δ shows that Bitcoin faces steady pressure from sellers aiming to push the market lower. The charts indicate that price action is being effectively "walked down" into the new week.
Market Volumes and Caution
15-minute interval charts display a declining trend. A green highlighted area around the $114,000-$115,000 range indicates significant buying interest, potentially setting the stage for a rebound if seller pressure subsides.
Seller Intentions Raise Questions
Market observers are closely watching the $115,000 level, as a break below could trigger a deeper correction. The active selling raises questions about whether it is profit-taking or positioning for a larger move.
As the market is further observed, it is crucial to monitor the bid depth and volume spikes, as these may provide early clues about market directions. The interplay between sellers and buyers will likely determine BTC's short-term trajectory.
