Based on my order book analysis, we see liquidity at the bottom, so the price is currently confined between a nearby liquidity zone above the $78,000 and $80,000 levels, with deep liquidity present below the $64,000 level. The most likely scenario is targeting the nearby liquidity first to build momentum before determining the direction of the next move, so let's not rush; opportunities are coming.
Analysis of wallet distribution and liquidity on the Hyperliquid platform More accurately, the behavior of large whale positions and Smart Money
There is clear optimism and buying in most categories, but the division among very large wallets means that the next move requires caution
The current trend is positive, but the presence of large short positions from major players may mean that the market has not yet determined its final direction
What do liquidity and pending orders tell us? Profit-taking trades and intense selling pressure between $79,000 and $81,000
Currently, the highest selling liquidity is concentrated at $79,000, with more than $8 million in sell orders.
Therefore, I will wait for Bitcoin to correct to the nearby support level at $76,000, but I will not rush to enter at this level without a buy confirmation.
As we previously warned, the price is adhering to the expected scenario and successfully launched, thanks to God.
The next resistance is 81,725, which is the closest target for Bitcoin to break and close above. Doing so would open the way for an uptrend to 90,413, then 96,765.
The best decision at this time is to wait for the 81,725 zone, after which we will make a technical decision based on price action.
Good luck
EGYunlock
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🚨 Important update on Bitcoin movement (#BTC)
As you know, Bitcoin experienced a sell-off before the weekly close due to market manipulation, causing it to retreat towards the short-term support zone, marking the first reversal of the month's close.
However, the positive aspect is that the selling wave did not accelerate afterward, which is a reassuring sign for now.
Now, all eyes are on the US economic data during the first week of August and how the cryptocurrency market will react to it.
In summary:
🔹 The $63,700 – $64,000 zone is a key short-term resistance level that must be reclaimed to maintain a bullish outlook.
🔹 To regain real momentum, Bitcoin must close daily above the $66,000 level; only then can we speak of a strong continuation of the upward trend.
For now, our priority is to reclaim nearby resistance levels. Once achieved, the path will become clearer, and we will begin the main market analysis.
📅 Tomorrow morning, we will review the economic calendar and go over all important data and events expected until Friday.
More than 75% of small traders opened buy positions based on excessive optimism toward Bitcoin and altcoins. However, market whales are reaping their profits and exploiting this buying rush; they have started closing their buy positions and opening new sell positions at the $80,156 level. When most traders enter buy positions, the whales begin to sell, which is often followed by a sudden drop (liquidity trap), more accurately described as a liquidation of excessive buy positions. Therefore, it is advisable to avoid opening new buy positions for now until this pressure subsides and the trend stabilizes.