Another heavy "$ETH sell" just hit the market🥶. Whale 0xB4d3 dumped 20,000 ETH worth roughly $41.18M over the past 3 hours, selling at an average price near $2,059. This wallet has already been on traders’ radar for large #ETH and WBTC movements, and today’s sale only adds more pressure to the idea that the whale may still be reducing exposure. Even after unloading another massive batch, the address still reportedly holds significant on-chain assets , so the market will be watching closely to see whether more selling follows. Address: 0xB4d3bea9D824C4dD7deD7cCc93E6212E3f0B186a
Your market view will always be dependent on the timeframe you're trading. for example If you're trading daily timeframe your invalidation is i think around $74800 from the market structure perspective and it's also around the breakout level. As long as price is above that level there is still an argument that Bitcoin is Bullish.
Things will start looking bad on the Daily if price accepted below this level. Once again the market views are dependent on the timeframe you're trading/looking at. Weekly chart will have a different level of support.
Each timeframe shows you different picture and provides different results.
After a sharp drop that took us down toward $74,300, we’ve seen a strong rebound candle pushing price back above $76,800. What stands out to me is how fast sellers stepped in after the brief recovery — we’re now hovering right below the psychological $77,000–$77,700 zone (that pink area you marked).
This move feels like classic late-stage uncertainty. On one hand, buyers defended the lower zone decently, showing some resilience. On the other, the inability to push and hold above $77,000 tells us that sellers are still very much active. Many traders are probably sitting on the sidelines right now, waiting to see if this is just a dead cat bounce or the beginning of real accumulation.
The interesting part is the psychology. After the volatility we’ve seen, fear is high, every small bounce gets people hoping for a reversal, while every rejection reinforces the “we’re not out of the woods yet” narrative. Institutions and big players seem to be playing patient, absorbing supply around these levels rather than chasing aggressively.
Right now, the market is caught between hope and caution. If we manage to flip $77,000–$77,700 with conviction, it could quickly shift sentiment and bring back some bullish momentum. But if we fail here and roll over again, it might trigger more selling as weak hands get shaken out.
Personally, I think this is one of those moments where the next few hundred dollars will speak volumes about short-term direction. The structure is still messy, but the fact that we bounced from that lower area shows the market still has some fight left. $BTC #BTC