Bitcoin hits 62.2K liquidity grab, choppy weekend ahead

Aug 01, 2026

A Bitcoin trading update that reads mostly neutral for the short term: prices dipped to grab liquidity as predicted, and now a quiet, choppy stretch is likely into next week.

  • Bitcoin dropped to exactly 62.2K to wipe out liquidity, playing out the prior call.
  • Next move is likely choppy sideways action or a very slight bounce over the weekend — no big rally expected.
  • Longer-term weekly charts still show a bullish setup, so this is short-term weakness, not a crash.
  • Ethereum trade was stopped out (still an 8,000 USDT profit over two weeks); ETH now shows a bearish divergence and heavy resistance near $1,950.
  • XRP is the weakest, testing its lows, while Solana and Chainlink follow Bitcoin and hold key support for now.

Outlook: Expect a quiet, range-bound weekend, with how the US stock market opens Monday/Tuesday setting the tone for a possible small relief bounce.

## Bitcoin Levels

  • **Bias:** Neutral short-term, bullish longer-term (weekly bullish divergence still active)
  • **Buy / accumulate:** Around $60,000 (strong support zone)
  • **Support:** $60,000; local low ~62.2K (possibly down to ~$62,500)
  • **Resistance:** $66,000–$67,000
  • **Targets:** Slight relief bounce in coming weeks; no large upside called near-term
  • **Invalidation:** A break below the recent local lows / weekly bullish divergence lows

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