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Published: 19 October 2026,03:05
Chart The Market
Bitcoin remains in a broader downtrend, although recent price action suggests that selling pressure may be easing as market volatility narrows. Despite the prevailing bearish structure, BTC has managed to hold above the critical 61.8% Fibonacci retracement level at 79,770.00, prompting a technical rebound and indicating that buying interest remains present at this key support zone. The latest session also produced a bullish engulfing candlestick pattern, providing additional technical evidence of a potential near-term recovery.
A sustained rebound above the recent trading range would strengthen the bullish bias and potentially pave the way for further upside as momentum improves. However, given the broader downtrend, the recovery remains vulnerable to renewed selling pressure unless BTC can establish a stronger bullish price structure. A decisive break below 79,770.00 would invalidate the immediate bullish setup, expose the market to further downside and reinforce the prevailing bearish trend. Until this critical support is breached, the combination of Fibonacci support and the bullish engulfing pattern suggests scope for a continued technical rebound.
ResistanceLevels: 84,480.00, 86,500.00
Support Levels:81,225.00, 79,770.00
WTI crude oil remains firmly entrenched in an uptrend, with bullish momentum accelerating following a breakout above its ascending channel. The latest price action suggests that buying pressure is strengthening, although the psychological $100.00 level represents a significant near-term hurdle where profit-taking could trigger a temporary technical pullback.
Despite the potential for short-term consolidation, bullish momentum remains supported by both the MACD and RSI indicators, reinforcing the prospect of further upside. A sustained break above $100.00 would strengthen the bullish outlook and potentially pave the way for a move toward the next key resistance at $104.50. Conversely, failure to overcome this psychological barrier could prompt a near-term retracement as traders lock in profits. Unless the breakout above the ascending channel is reversed, however, the broader technical bias remains tilted to the upside, with $104.50 emerging as the next key target.
ResistanceLevels: 104.50, 110.15
Support Levels:97.80, 93.15
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