Current BTC Market Overview:
Liquidation and Leverage Map shows that the majority of long position liquidations (red zone) occurred around the $119,500–$120,000 level. This is a key resistance area preventing a significant price surge. The cumulative short leverage is rising, indicating sellers are eager to keep the price down.
Binance Liquidation Map confirms a concentration of liquidations between $114,000 and $120,000, emphasizing the importance of this range.
Price Chart and Indicators (4h) indicate BTC has broken above $119,000 and is consolidating around $119,400–$120,000. The indicators (Stochastic, RSI) are in overbought territory — a slight pullback is possible.
Moving Averages (50 and 200 MA) show a bullish trend, with the price above both averages, signaling medium-term upside momentum.
21-day Rolling Volatility is slightly elevated but within average levels — the market is poised for impulsive moves.
Macro Outlook and News Highlights:
US JOLTs Job Openings (June) exceeded expectations at 7.769 million vs. 7.3 million forecast, signaling a strong labor market.
Eurozone GDP (QoQ, YoY) beat estimates with 0.6% QoQ and 1.5% YoY growth — a positive sign for global demand.
US GDP Preliminary Report is expected to show a -0.5% QoQ contraction, potentially pressuring equities and crypto.
Fed Rate Decision on July 30 will likely hold steady at 4.5%, but the Fed’s press conference may provide important forward guidance.
US Core PCE Price Index and Personal Income/Spending Data could show moderate inflation with weak income growth, adding some caution.
US Non-Farm Payrolls (Aug 1) expected to show job growth; unemployment rate slightly better than expected, which may reduce Fed’s pressure to ease.
Weekly Forecast:
BTC price is likely to find support around $117,000–$118,000 with attempts to break above $120,000. However, overbought indicators and strong resistance near 120k suggest a potential minor pullback before further upside.
Long liquidations near 120k may continue as many traders bet on continued rallies but could be shaken out in the short term.
Volatility is expected to increase around Fed news and the jobs report.
Macro signals are mixed: strong labor markets and Eurozone growth vs. US GDP contraction and cautious Fed.
Summary for Traders and Investors:
This week promises to be volatile for BTC. The key resistance at $120,000 remains a major battleground. Investors should prepare for possible pullbacks and liquidations at this level. Macro data and Fed decisions will set the tone, with a high likelihood of consolidation before the next major move.
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