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Published: 21 May 2026,04:01
Chart The Market
BTC, H4:
Bitcoin remains under short-term bearish pressure after failing to sustain momentum within the broader ascending channel structure. Recent price action shows BTC breaking below the lower boundary of the rising channel, while repeated rejections near the 79,270 resistance zone suggest that sellers continue to cap upside attempts in the near term. Following the sharp decline from the 82,000 region, Bitcoin found temporary support near the 76,630 level and has since staged a modest recovery. However, price still trades below the previous support-turned-resistance area around 79,270, keeping the broader short-term structure cautious unless buyers can reclaim this zone convincingly.
Momentum indicators are beginning to stabilize after the recent selloff. The Relative Strength Index (RSI) has recovered back above the midpoint level, indicating that bearish momentum is easing and short-term buying interest may gradually be returning. Meanwhile, MACD is attempting to form a bullish crossover from negative territory, while the histogram continues to improve, suggesting that downside momentum may be fading in the near term.
Overall, Bitcoin appears to be consolidating after its recent correction lower, with markets closely watching whether BTC can maintain support above 76,630 and build enough momentum to challenge the key 79,270 resistance area again in the near term.
Resistance Levels: 79,270.00, 81,280.00
Support Levels: 76,635.00, 74,080.00
Dollar Index, H4
The U.S. Dollar Index (DXY) continues to trade within a broader recovery structure after successfully breaking above the descending trendline resistance that had capped price action since early April. Recent momentum pushed the index toward the 99.20 resistance region, although price has since entered a short-term consolidation phase just below the key 99.55 resistance level.
Despite the recent pullback, the broader near-term structure remains constructive as DXY continues to hold above the previous breakout zone near 98.90. This suggests that buyers are still maintaining control in the short term, while the series of higher lows formed since mid-May reflects improving market sentiment toward the dollar.
Momentum indicators, however, are beginning to show signs of moderation after the recent rally. The Relative Strength Index (RSI) has eased lower from near overbought territory but remains above the midpoint, indicating that bullish momentum has softened without fully reversing. Meanwhile, MACD remains in positive territory, although the histogram continues to weaken and the MACD lines are gradually flattening, pointing to slowing upside momentum and the possibility of near-term consolidation.
Resistance Levels: 99.20, 99.55
Support Levels: 98.90, 98.50
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