Crypto

Whales Long Bitcoin at Resistance, Buyers Absent

Guavy AI Editorial Team Published August 16, 2026

Instruments

HYPE BTC

Glassnode data shows that whales are taking long positions on Bitcoin at resistance levels.

The number of whale net long positions on Hyperliquid peaked right before hitting a crucial price barrier, but despite this, buyers remain absent from the market.

Currently, Bitcoin is trading within its Bollinger Bands, with the price testing the upper resistance level at $63,456.36 and an RSI (Relative Strength Index) reading of 44.38 indicating neutral momentum.

The MACD (Moving Average Convergence Divergence) golden cross is providing a mild bullish signal, but the EMA50 ($63,584.0) and EMA200 ($63,675.09) indicators point to a likely retracement towards lower support at $62,788.09 before any potential recovery attempt.

The spot demand for Bitcoin is now crucial in validating the leverage-driven move predicted by price models.

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