Metals
Bitcoin Technical Analysis
Bitcoin selling pressure intensified since late October, with the 4h chart showing a sharp and persistent downtrend. Price has fallen dramatically and is currently trading significantly below all three moving averages MA(5), MA(10), and MA(30). The moving averages also show a bearish crossover.
Yesterday,mprice fell below major psychological support level of $100,000 before a small bounce, but the immediate trend is still decisively down.MACD also reflects intense selling pressure.
The overview of bitcoin is strongly bearish. The recent sharp drop suggests panic selling or a major shift in market sentiment. Downtrend is expected to continue until a clear sign of bottoming, like a bullish divergence or MA crossover, is established.
Bitcoin 4H Chart
| Resistance | $103,661 | $107,313 | $110,751 |
| Support | $99,000 | $98,242 | $96,000 |
GBPUSD Technical Analysis
As the USD strengthens, GBPUSD shows a clear and sustained downtrend since late October. The pair is trading significantly below all three Moving Averages (MA 5, 10, and 30). This is a classic confirmation of a strong bearish trend. Additionally, a bearish crossover is seen on the three moving averages.
The MACD line is well below the signal line, which indicates weakness and suggests strong downward momentum and no immediate signs of a reversal.
The overview for GBPUSD is strongly bearish. The next major support level is 1.3000, but the overall technicals suggest the price is poised for a further decline unless a significant reversal pattern emerges.
GBPUSD 4H Chart
| Resistance | 1.3077 | 1.3163 | 1.3220 |
| Support | 1.3000 | 1.2990 | 1.2883 |
S&P500 Technical Analysis
Following the strong uptrend in the S&P500, the index showed signs of correction this week. Since the recent peak, the index price has reversed, showing a sharp drop that broke below the three major moving averages MA(5), MA(10), and MA(30).
MACD confirms the loss of bullish momentum and the establishment of new bearish momentum.
The technical picture indicates a bearish reversal from the prior uptrend. The break below the moving averages and the confirmed MACD Sell signal suggests that the index is likely to continue its decline in the short to medium term.
S&P500 4H Chart
| Resistance | 6,820 | 6,845 | 6,890 |
| Support | 6,720 | 6,683 | 6,654 |
