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BTC, H4:
Bitcoin previously broke below its ascending channel, signaling a bearish structural break and suggesting that the broader uptrend has lost momentum. The breakdown marked a shift in market sentiment, with sellers gaining control after an extended period of bullish price action.
Although BTC subsequently staged a technical rebound, the recovery lacked conviction as the cryptocurrency failed to reclaim or break above its previous peak above $66,000. The inability to overcome this key resistance level indicates that buying pressure remains limited and that the rebound may have been corrective rather than the start of a new bullish trend.
From an Elliott Wave perspective, the recent rebound could be interpreted as a corrective phase within a broader bearish sequence. If this interpretation proves correct, Bitcoin may be preparing for another leg lower as the corrective rally loses momentum.
The immediate support level to monitor is $62,450. A break below this support would provide further confirmation of the bearish outlook and suggest that the next phase of the decline is underway. Such a move could accelerate selling pressure and expose Bitcoin to deeper downside risks in the sessions ahead.
Resistance Levels: 65,740.00, 69,080.00
Support Levels: 62,440.00, 59,930.00

XAGUSD, H4
Silver has broken above its month-long downtrend trendline and subsequently staged a strong technical rebound, gaining more than 13% since the breakout. The move has significantly improved the metal’s technical outlook and suggests that the previous bearish structure may have been broken.
However, the latest price action has shown signs that the rally may be losing momentum, with silver forming a double-top pattern. This bearish reversal formation suggests that the metal could undergo a period of technical retracement following its sharp advance.
The immediate support level to watch is near $63.00. A pullback toward this area would represent a healthy correction after the recent strong rally and could allow the market to consolidate its gains before attempting another move higher.
As long as silver is able to maintain support around $63.00, the broader bullish structure is expected to remain intact. A successful defense of this level could provide a foundation for renewed buying interest and help the metal establish a more sustainable long-term uptrend.
Resistance Levels: 68.00, 72.00
Support Levels: 63.00, 59.15
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