13 June 2025,03:40
Chart The Market
13 June 2025, 03:40
BTC, H4:
Bitcoin has undergone a structural breakdown, slipping decisively below its key support level above $106,750, marking a departure from its previous bullish trend. The cryptocurrency has now declined for three consecutive sessions, shedding over 6% of its value and approaching a critical support zone near $102,300. A sustained drop below this level would further confirm the growing bearish momentum in BTC.
Technical indicators are reinforcing the shift in market sentiment. The Relative Strength Index (RSI) is on the verge of entering oversold territory, while the Moving Average Convergence Divergence (MACD) is poised to cross below the zero line. These signals suggest that Bitcoin’s prior bullish strength has dissipated, with bearish pressure now taking hold.
The breakdown below key support levels, coupled with weakening momentum indicators, points to a potential continuation of the downtrend. Traders are closely monitoring the $102,300 level—should Bitcoin fail to hold this support, the next leg downward could accelerate, potentially opening the door for deeper losses in the near term.
Resistance Levels: 106,650.00, 111,745.00
Support Levels: 102,300.00, 96,725.00
USDCAD, H4
The USDCAD pair extended its downward momentum in the previous session, sliding to a fresh multi-month low of 1.3591 – a level not seen since last October – as bearish pressure continued to dominate price action. The currency pair has been consistently establishing lower lows since breaking below its key sideways trading range, confirming the prevailing negative bias in the market.
However, technical indicators are beginning to show early signs of potential exhaustion in the current downtrend. Notably, the MACD indicator has formed a bullish divergence, creating higher lows while price action recorded lower lows, suggesting weakening downward momentum. This development raises the possibility of an impending reversal, though confirmation would require the pair to first stabilize and then overcome near-term resistance at the 1.3675 level.
The RSI indicator currently hovers near oversold territory, reflecting the sustained selling pressure that has characterized recent trading. A meaningful rebound in the RSI could provide additional evidence of shifting momentum and support the case for a bullish reversal. While the broader technical picture remains bearish in the immediate term, these emerging signals warrant close attention as they may foreshadow a change in market direction. Traders should monitor price action around the 1.3675 resistance level, as a decisive break above this threshold could signal the beginning of a more sustained recovery phase for the USDCAD pair.
Resistance Levels: 1.3705, 1.3785
Support Levels: 1.3615, 1.3535
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