Metals
Bitcoin Technical Analysis
Bitcoin has been in a clear downtrend since early November, breaking through key support levels that led to a strong decline to $80,000 levels.
The overall structure for the short term is bearish. However, the recent candlesticks show a minor upward bounce off the low.
Price is currently trading below all three Moving Averages (MA 5, 10, 30), but showing signs of recovery.
MACD lines have recently crossed bullish, but are still well below the zero line. This is a sign of a short-term bullish correction within a larger bearish trend. It suggests the selling pressure is easing, but a true trend reversal is not yet confirmed as the MACD is still in negative territory.
Until price can break above the moving averages and the MACD crosses above the zero line, the overall risk remains to the downside, with the most immediate support at the recent low of $80,630
Bitcoin 4H Chart
| Resistance | $90,081 | $93,761 | $93,986 |
| Support | $85,261 | $83,389 | $80,581 |
Gold Technical Analysis
Gold is showing a bullish recovery following a sharp drop that brought prices down to $4,000. The price has been putting in higher highs and higher lows since that point, confirming a short-term uptrend.
The peak from around November 14th at $4,245 serves as the most immediate significant resistance level.
The price is currently trading above all three Moving Averages (MA 5, 10, 30), indicating strong bullish momentum in the immediate short term.
MACD lines are crossed positively and are moving higher above the zero line. This supports the recent bullish move.
It’s important to keep an eye on how price approaches the $4,245 resistance level. A move above this level would confirm a stronger continuation of the bullish trend.
Gold 4H Chart
| Resistance | $4,187 | $4,212 | $4,245 |
| Support | $4,110 | $4,082 | $4,039 |
Nasdaq Technical Analysis
Nasdaq has experienced a sharp drop recently, establishing a medium-term bearish correction. Similar to Bitcoin, it has recently shown a strong short-term recovery off the low.
Cross: The price has crossed back above the two shorter moving averages MA(5 and 10), but is still trading below the long-term 30-period moving average.
MACD lines have crossed bullish. This is an indication of the short-term reversal from the low.
The immediate challenge for buyers is to breach the 30-period Moving Average and potentially the high from around November 14th to confirm the end of the medium-term correction.
Nasdaq 4H Chart
| Resistance | 25,147 | 25,385 | 25,623 |
| Support | 24,645 | 24,461 | 24,272 |
