Bitcoin and crypto update: taking profits on Ethereum

Jul 16, 2026

Bitcoin and crypto are losing steam in the short term as US stocks weaken, but the bigger picture still leans slightly bullish — a neutral-to-cautious setup for traders.

  • Bitcoin is running into strong resistance near $66,000 while the S&P 500 and Nasdaq lose momentum, capping upside for now.
  • A stack of liquidity sits just above price around $65.6K–$66K, a likely magnet that could pull Bitcoin higher over the coming days if stocks steady.
  • Ethereum broke out of a double-bottom pattern, so a partial profit-take was done near $1,930, just under resistance, with a stop moved above entry to lock in gains.
  • Altcoins are expected to track Bitcoin — Solana is defending $75–$76 support, and a break below could send it toward $67–$68.

Outlook: Expect another day or two of weakness and choppy sideways action, with a possible push toward the $65.6K–$66K liquidity over the weekend or into next week if stocks firm up.

## Bitcoin Levels

  • **Bias:** Neutral short term, still bullish medium term (bullish divergence active on daily and weekly)
  • **Support:** ~$60,000
  • **Resistance:** $65,000–$66,000, strong at ~$66,000
  • **Targets:** Liquidity grab toward $65.6K–$66,000 in the coming days

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