29 October 2025,05:51
Chart The Market
29 October 2025, 05:51
BTC, H4:
Bitcoin’s recent price action underscores an ongoing struggle between short-term rebounds and a persistent bearish trend. The rally encountered strong resistance beneath a Fair Value Gap created during an earlier sell-off, leading to a clear rejection and a subsequent 3% decline. This rejection is a significant technical development, as it demonstrates that the robust 10% rebound over the past week was insufficient to alter the underlying bearish market structure. Instead, that upward move is now best classified as a technical correction within a larger downtrend.
The current focus shifts to a critical pivotal support level near $110,500. This price zone represents a major line in the sand for market sentiment. Should Bitcoin successfully find a footing and hold this level, it would signal that the selling pressure is effectively vanishing and could potentially mark a decisive turning point for the asset. However, the current momentum indicators lean towards a more cautious outlook. The RSI has retreated from overbought territory, and the MACD has exhibited a bearish death cross. Together, these signals suggest that the recent bullish momentum has widely eased and are currently pointing towards a bearish trend reversal in the short term. Consequently, the path of least resistance appears to be down unless the bulls can mount a strong defense at the $110,500 support.
Resistance Levels: 117,351.00, 123,230.00
Support Levels: 108,240.00, 103,650.00
AUDUSD, H4
The AUDUSD pair has surged by more than 1%, a move that was triggered by a decisive breakout from an ascending triangle price pattern. This development suggests the pair is poised to extend its bullish trend, with momentum indicators reinforcing this outlook. The RSI has now entered overbought territory, and the MACD continues to climb higher after a decisive break above its zero line, collectively signaling that bullish momentum is intensifying.
However, the pair now approaches a significant test in the form of a strong resistance level near the 0.6621 mark. This level has historically posed a major challenge, as evidenced by the pair being rejected multiple times in the past beneath this same resistance line. Consequently, while the technical structure is bullish, this key resistance zone is likely to post a strong challenge and may temper the pace of any further immediate gains.
Resistance Levels: 0.6621, 0.6655
Support Levels: 0.6585, 0.6554
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