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Published: 9 June 2026,08:05
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BTC, H4:
Bitcoin is showing early signs of recovery following its recent period of sustained selling pressure. After consolidating around the key psychological support level near $60,000, the cryptocurrency staged a strong rebound of more than 7% in the latest session, suggesting that buyers have begun to re-enter the market at lower levels.
The sharp recovery indicates that short-term bearish momentum may be easing, at least temporarily, as market participants respond to oversold conditions and attractive valuations near recent lows. However, despite the rebound, the broader technical outlook remains cautious, with Bitcoin still trading within a longer-term bearish structure.
From a near-term perspective, the $62,850 level has emerged as a critical support area. If BTC can successfully hold above this level, the recovery may gain further traction and pave the way for an extension toward the next major liquidity zone around $66,000. This area could act as a magnet for price action as the market seeks to fill inefficiencies created during the recent sell-off.
Nevertheless, traders should remain mindful that the current rebound may still be corrective in nature. Unless Bitcoin can reclaim key resistance levels and establish a stronger bullish structure, the broader downtrend is likely to remain intact.
Resistance Levels: 65,766.55, 69,236.20
Support Levels: 60,275.00, 58,000.00
USDJPY, H4
USD/JPY continues to trade within a well-established uptrend, characterized by a series of higher highs and higher lows. This price structure indicates that the broader bullish trend remains intact, with buyers maintaining control of the market.
However, momentum indicators are beginning to signal potential weakness beneath the surface. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have been trending lower despite the pair continuing to record higher price levels. This divergence between price action and momentum indicators forms a bearish divergence, often viewed as an early warning sign that bullish momentum is fading.
The emergence of bearish divergence does not necessarily signal an immediate trend reversal, but it does suggest that the current uptrend may be losing strength and becoming increasingly vulnerable to a corrective pullback. Traders should therefore monitor key support levels closely for confirmation of any shift in market sentiment.
In the short term, the psychological level at 160.00 remains a critical support zone. As long as USD/JPY holds above this level, the broader bullish structure remains valid. However, a decisive break below 160.00 would likely reinforce the bearish divergence signal and could trigger a deeper correction as sellers gain momentum.
Resistance Levels: 161.05, 162.00
Support Levels: 160.00, 159.20
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