15 July 2025,02:44
Chart The Market
15 July 2025, 02:44
BTC, H4:
Bitcoin’s recent surge has cooled after the pair touched a fresh high near $121,525 which is just above the 1.272 Fibonacci extension before retreating sharply toward the $118,500 zone. This pullback follows an aggressive breakout from the $116,800 resistance level, which previously aligned with the 1.0 Fib mark and marked a key breakout point during the early July rally.
While the broader structure still favors bulls, warning signals are surfacing. The Relative Strength Index (RSI) has reversed decisively from overbought territory, falling from 73 to 54 in a matter of hours. This reflects cooling momentum and raises the risk of deeper consolidation, especially if price fails to hold above the $116,800 support zone.
The MACD also supports a more cautious outlook. Although still above the zero line, the MACD histogram is fading, and the MACD line appears poised for a bearish crossover. If confirmed, this would signal a loss of bullish momentum and potential shift toward mean reversion.
Technically, BTC/USD remains in an overall bullish structure, with pullbacks likely to be viewed as buying opportunities unless key support zones break. Immediate downside support rests at $116,800, followed by the $113,060 Fib level. A decisive reclaim of $121,525 would be needed to reassert upward momentum and open the door toward $127,552. For now, Bitcoin appears to be entering a digestion phase after an overstretched rally, with short-term risks skewed toward consolidation or a mild pullback.
Resistance Levels: 121,525.00, 127,552.00
Support Levels: 116,788.00, 113,060.00
GBPUSD, H4
GBP/USD remains under heavy pressure, sliding toward the 1.3400 handle after breaking below the 0.236 Fibonacci retracement level at 1.3490. The pair is now approaching key structural support near 1.3393, as the broader downtrend persists amid weakening market sentiment and rising demand for the U.S. dollar.
Technically, the structure favors continued downside in the near term. Price remains well below the 20-, 50-, and 100-period moving averages, reinforcing the bearish trend. The Fibonacci retracement zones also show minimal buying defense, with no meaningful bounce from prior key levels.
Momentum indicators signal further caution. The Relative Strength Index (RSI) has dropped to 25, deep in oversold territory, indicating strong selling pressure but also suggesting the possibility of a short-term technical bounce or consolidation. However, there’s no sign of bullish divergence yet. The MACD histogram remains negative, and the MACD line is holding below the signal line, underscoring the lack of recovery momentum. The downward slope in both lines signals continued pressure as the pair fails to reclaim short-term resistance.
Looking ahead, the 1.3393 level marks the next major support, with a decisive break below potentially triggering a deeper retracement toward 1.3343. For now, the pair remains locked in a bearish continuation phase, with any rebound likely to face strong overhead resistance.
Resistance Levels: 1.3490, 1.3552
Support Levels: 1.3393, 1.3343
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