Bitcoin's daily chart continues to show critical developments, with price action hovering just above the key support zone between $88,800 and $90,600. Today’s bounce has slightly alleviated immediate selling pressure, but the overall trend remains fragile. The potential head-and-shoulders pattern remains intact, with the neckline now near $91,300. Price bounced right at the neckline. This level remains a key threshold; a break below it, especially on higher volume, could confirm the bearish pattern and suggest further downside. The 50-day moving average, currently at $97,700, has firmly flipped to resistance after being lost earlier this week. Bitcoin attempted a recovery but was rejected before reclaiming it. Bulls will need to regain this level to shift momentum back in their favor. RSI is still not oversold on the daily timeframe, which means there could be room for further downward movement. However, shorter time frames, such as the 4-hour chart, are approaching oversold territory, which could provide some temporary relief. Look for bullish divergence on these lower time frames to signal a potential bottom. Volume remains muted on today’s bounce, suggesting that buyers are not yet stepping in with conviction. A decisive close above $99,860 would invalidate some of the bearish concerns and could open the door for a retest of higher resistance levels. Conversely, a loss of the neckline or the support zone below it could accelerate selling pressure, making the $73,835 level the next major target. For now, caution is warranted as Bitcoin navigates this critical zone.
he Canadian dollar edged lower against its U.S. counterpart for a third-straight day on Thursday as investors questioned the wisdom of suspending Canada's parliament at a critical time for the economy, and awaited domestic jobs data. The loonie was trading 0.1% lower at 1.4390 per U.S. dollar, or 69.49 U.S. cents, after moving in a range of 1.4366 to 1.4404. Canadian Prime Minister Justin Trudeau said on Monday he would step down in the coming months and that parliament would be prorogued until March 24.
Hidden bullish divergence shown on macd indicator. COINBASE:FILUSD
From the beginning of November and throughout the month, FIL, driven by the overall positive market sentiment, demonstrated confident growth from $3.125 to $8.322, an increase of over 158%. This movement was accompanied by a rise in trading volumes. Subsequently, a correction occurred, triggered by heightened volatility amid anticipation of the new U.S. president's inauguration, their statements, and the Federal Reserve's reaction to these events. As a result, the asset's price dropped to a mirror level that previously acted as resistance but now serves as support. From a volume profile perspective, this level is confirmed by market participants' interest. In the near term, moderate volatility within this range can be expected, followed by a potential price reversal, a return to the local high, and its possible renewal.
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Clear divergence on 15 min rsi with last one within zone, so expecting a short correction
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NYSE:ZK price is moving quite interestingly It seems that the levels and channel we suggested on the chart can be used in trading the OKX:ZKUSDT pair. Therefore, if the price of #zkSync is kept above $0.16 in the near future, this asset can be bought into the investment portfolio. 1️⃣ The minimum growth target is x2 to $0.35 2️⃣ Longer-term and more ambitious targets are $0.70 and $0.87 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more