30 May 2025,05:47
Chart The Market
30 May 2025, 05:47
BTC, H4:
Bitcoin retreated nearly 5% in the recent sessions, falling back after being rejected near the previous fair value gap (FVG) around the $110,000 mark. The move aligns with prior indications of a potential false breakout following BTC’s surge to a new all-time high of $112,000.
The cryptocurrency has now returned to a familiar consolidation range between $105,000 and $102,200—a zone that may offer near-term support. While the broader trend throughout May has remained bullish, recent price action suggests a loss of upside momentum.
Technical indicators reflect a weakening bias. The Relative Strength Index (RSI) has dipped toward the oversold territory, while the MACD has broken below the zero line, signaling a potential shift in momentum toward the downside. Should BTC fail to defend the lower bound of the current range, further corrective pressure may emerge.
Investors will be closely watching whether Bitcoin can stabilize above $102,200. A rebound from this level could revive bullish sentiment, while a breakdown may trigger a deeper retracement in the short term.
Resistance Levels: 106,630.00, 111,750.00
Support Levels: 102,260.00, 96,700.00
GBP/USD, H4
The GBPUSD pair recently breached its uptrend support following a 1% decline in the previous session. However, the pair found subsequent support and staged a technical rebound, suggesting a potential extension of the broader bullish trend.
A critical resistance level to monitor is the 1.3520 mark. A sustained breakout above this level, particularly surpassing the prior high, would reinforce bullish continuation. Conversely, failure to reclaim this resistance could lead to the formation of a head-and-shoulders pattern, indicating a potential bearish reversal.
Momentum indicators show weakening bullish strength. The RSI has retreated toward the 50 midline, while the MACD is approaching a bearish crossover below the zero line. These signals suggest that upward momentum has faded, warranting caution among traders.
Resistance Levels: 1.3535, 1.3650
Support Levels: 1.3420, 1.3290
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