Bitcoin Price Shows Potential for Support Test Near $113,000 Amid Seller Dominance

Key Points

1. Bitcoin (BTC) price dropped 1.43% on Saturday, driven by seller dominance, testing resistance near $114,008 but failing to sustain it.

2. Key support levels are at $113,000 and $112,000; a break below these could lead to a correction toward $110,000 or lower.

3. A daily close below $113,000 may trigger further downside momentum, with $112,000 acting as a critical midterm test level.

4. The market's bearish momentum is signaled by BTC's inability to hold above the $114,008 resistance level.

5. COINOTAG analysis highlights the importance of monitoring these support levels for potential short to midterm price movements.