Bitcoin’s price movements in recent days have shown that sellers remain dominant as it approaches the $78,000 resistance. While BTC, which dropped to $ 77,200 during the day, experienced a slight decline in the last 24 hours, a similar pressure was noted in the altcoin market. Following recent market-wide declines, analysts are debating whether the pullback signals a permanent correction or a temporary pause in the long-term uptrend.
Selling pressure increases in the short term
According to the technical assessment shared by market analyst TheTrueTradeDEX, Bitcoin returned to a seller’s atmosphere in the short term after failing to exceed the $ 78,200 level. In the analysis made especially on the 15-minute charts, it was stated that the ‘Change of Character’ (CHoCH) structure, characterized by a downward trend, continued.
In the analysis, it was emphasized that “the sell side in Bitcoin increased the pressure after the rejection from a weak peak and for now the price is focused on the demand zone between 76 thousand 600 – 77 thousand 400 dollars. This range stands out as the last important buyer defense before the next sharp pullback occurs.”
Analysts state that a break below $77,200 may increase the sales pace, and the strong liquidity accumulation in the $76,000 region is followed as the first support line. On the other hand, the price rising above $ 77 thousand 400 again may strengthen the buyers in the short term.
Technical indicators are producing mixed signals. While the fact that the MACD indicator is still in the negative zone supports the selling pressure, there are also some signs of weakening in the last sales wave.
Mini dictionary: Change of Character (CHoCH) is a technical analysis term that shows that the short-term direction in prices changes from seller to buyer or buyer to seller. It often provides an early warning that the market may change direction in a short time.
Market fear suppresses price
Besides Bitcoin, a cautious atmosphere prevails in the general crypto market. According to the morning report of May 22, market participants have increased anxiety due to volatility and sudden declines. Analyst Michael evaluates the current situation as a “market of fear”.
The charts reveal that Bitcoin is trading at $77,232, losing 0.43% in 24 hours and 4.2% on a weekly basis. Additionally, it is observed that BTC is approximately 39% lower than its previous high. Current figures on the current price of Bitcoin CryptoAppsy According to the data reflected on the screens, it is around 77 thousand 249 dollars.
While it was stated that “Bitcoin’s current price is an indicator of fear in the market”, it was reminded that there were recoveries after similar emotional environments in previous cycles.
The Crypto Fear and Greed Index stands at 28 points and is clearly in the ‘fear’ zone. On the other hand, it is reported that some long-term investors see this weakening as a natural correction of major cycles in the market rather than a structural collapse. Michael Saylor, known for his long-term positive approach to Bitcoin, also maintains his optimism despite short-term fluctuations.
Technical indicators point to indecision
The fluctuation observed in the BTC market also creates a mixed picture in technical indicators. TradingView’s overall technical summary for BTC is reported as “Neutral”, meaning buyers and sellers in the market have no clear advantage.
Oscillators reflect the indecisive market by charting a directionless momentum with the RSI at 46. The Stochastic %K indicator is at 22 and although it is approaching the oversold mark, it does not give an alarm yet.
While the MACD indicator produces a sell signal, the Momentum (10) and Bull Bear Power indicators point to a buy direction. Looking at the short-term moving averages, it is observed that EMA 10 is at 78 thousand 8 dollars and SMA 20 is at 79 thousand 349 dollars, and the price remains below these levels. This chart confirms the short-term downward pressure.
| Indicator | Short Term Signal | Medium Term Signal | Long Term Signal |
|---|---|---|---|
| Moving Medium (EMA/SMA) | sell | get | sell |
| RSI | Neutral | – | – |
| MACD | sell | – | – |
In the medium term, attention is drawn to basic support structures as the buying signal continues at the EMA 50 ($76 thousand 805) and SMA 50 ($76 thousand 423) levels. However, the fact that EMA 200 ($81,639) and SMA 200 ($80,794) still produce signals on the sell side shows that Bitcoin must overcome the upper resistances to achieve a strong rise.
Long-term structure remains strong
Despite the fluctuation in the short term, some experts share that positive views continue on price expectations for 2026. It is stated that especially the support zone in the 60 thousand – 65 thousand dollars band is critical for BTC to continue its upward cycle in the big picture.
Analysis shows that the current correction is similar to the long-term tests seen in past cycles, with BTC still uncompromising. If Bitcoin continues to stay above this support, higher levels can be targeted in the coming months.
In one of the analyses, “BTC seems to repeat similar behavior in every cycle, and as the price holds in the $60-65 thousand breakout zone, the groundwork is ready for new rises.”
However, it was also reminded that if the critical support zone is lost, the price may decline to 30 thousand dollars.
Altcoins adapt to a horizontal course
In recent days, when Bitcoin is having difficulty finding direction, a suppressed trend prevails in the rest of the crypto market. Many experts state that unless Bitcoin achieves a clear upward momentum, altcoins will have difficulty recovering.
While BTC’s horizontal movement continues around $77,000, it stands out that investors are being more selective and are only interested in coins with a strong technical structure.
In the short term, whether the market will go down to the $76,000 liquidity zone or whether the strong resistances above will be broken again will determine the future direction for all crypto assets.
