17 October 2025,05:51
Chart The Market
17 October 2025, 05:51
BTC, H4:
Bitcoin (BTC/USD) is exhibiting tentative signs of stabilization after an extended downside correction, with price finding support near the $107,700 zone. Despite this, the broader structure remains defined by a sequence of lower highs, reflecting persistent selling pressure and a cautious market tone.
Momentum dynamics further highlight the importance of the current level. The Relative Strength Index (RSI) remains anchored near oversold territory but is attempting to stabilize, while the Moving Average Convergence Divergence (MACD) shows early signs of convergence following a prolonged bearish phase. A synchronized recovery in both indicators above their respective thresholds would strengthen the case for a bullish reversal and signal a shift in underlying momentum.
Until such confirmation emerges, BTC/USD remains in a neutral-to-bearish consolidation, with near-term direction hinging on whether buyers can decisively reclaim the $111,600–$114,500 zone to reestablish upward momentum.
Resistance Levels: 113,815.00, 117,595.00
Support Levels: 107,700.00, 102,155.00
GBPJPY, H4
GBP/JPY remains in a consolidation phase following its recent pullback from the 204.80 high, with price currently stabilizing around the 201.80 zone. The pair is oscillating between key horizontal support and resistance levels, indicating indecision as market participants await a clearer directional catalyst.
Momentum indicators lean slightly bearish. The RSI has drifted below the neutral 50 mark, showing waning buying pressure, while the MACD remains near the signal line with a mild bearish bias, suggesting momentum is fragile and directionless in the near term.
Overall, GBP/JPY is in a short-term consolidation within a broader uptrend. A decisive break below 201.80 would confirm a deeper corrective phase, while holding above this zone keeps the potential for another upside rebound intact.
Resistance Levels: 203.35, 204.80
Support Levels: 201.80, 200.50
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