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Published: 19 August 2026,07:04
Chart The Market
BTC, H4:
Despite staging a notable bullish rally in the latest session, Bitcoin faced rejection after approaching the upper boundary of its asymmetric triangle price pattern, indicating that selling pressure remains present at higher levels. The rejection suggests that the recent rebound may not yet be strong enough to trigger a breakout from the established consolidation structure.
As BTC remains confined within the asymmetric triangle, the cryptocurrency could continue to trade within the pattern in the near term. Should the current trajectory persist, the next leg could see BTC gradually move toward the lower boundary of the triangle near $62,800.
Overall, the rejection at the upper boundary keeps the short-term outlook cautious and suggests that BTC remains range-bound. The $62,800 level will be an important support area to watch, while a decisive breakout above the triangle’s upper boundary would be required to invalidate the current bearish-to-neutral outlook.
Resistance Levels:65,740.00, 69,080.00
Support Levels: 62,441.65, 59930.00
XAGUSD, H4
Silver prices have been facing strong resistance near the $66.45 level, where the metal has been rejected multiple times, highlighting persistent selling pressure around this key resistance zone.
Following the repeated rejection, silver subsequently broke below its previous low near $63.90, providing an early bearish signal and suggesting that the metal may be entering a period of technical correction.
Despite the recent weakness, silver continues to trade within its long-term uptrend trajectory, meaning the current decline could still be viewed as a corrective phase rather than a complete trend reversal. The next key support level to watch is near $60.60, which coincides with the 61.8% Fibonacci Retracement level.
Should silver find solid support around $60.60 and stage a technical rebound, it would reinforce the view that the broader bullish structure remains intact. However, a decisive break below this Fibonacci support could signal that the correction is becoming deeper and potentially threaten the longer-term bullish outlook.
Resistance Levels: 64.55, 71.25
Support Levels: 58.95, 54.40
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