Published: 8 January 2026,06:03
Chart The Market
BTC, H4:
Bitcoin continues to consolidate within a broad multi-month range, constrained between resistance near $94,200 and support around $84,000 since mid-November. The most recent bullish advance was once again repelled at the upper boundary of this range, leading to a rejection and subsequent retracement. Price action is now approaching a critical technical level at the 61.8% Fibonacci retracement of the latest rally, situated near $90,200. A decisive break below this level would signal a breakdown from the near-term bullish structure and suggest a shift to a short-term bearish bias.
The bullish momentum observed earlier has notably deteriorated, as evidenced by key oscillators. The Relative Strength Index has slipped below its midline, indicating a shift from positive to negative near-term momentum. Meanwhile, the Moving Average Convergence Divergence indicator has generated a bearish death cross and is poised to decline below the zero line. This convergence suggests that buying pressure has dissipated and bearish momentum is currently in control.
Bitcoin’s technical structure is at an inflection point. The failure at range highs and the bearish momentum shift place the focus squarely on the $90,200 Fibonacci support. A sustained break below this level would confirm a failure of the latest bullish leg and open a path toward the broader range support near $84,000. The bearish scenario would be invalidated by a reversal and close back above the $94,200 resistance, which would instead signal a breakout from the prolonged consolidation. The alignment of price action and indicators currently favors the downside unless the key Fibonacci support holds firm.
Resistance Levels: 93,580.00, 101,365.00
Support Levels: 89,860.00, 85,635.00
AUDJPY, H4
The AUDJPY pair continues to trade firmly above its long-term uptrend support line, a dynamic level that has defined the bullish trajectory since the October low of last year. After a brief technical retracement in mid-December, the pair has regained strong upward momentum, advancing to its highest level since June 2024. This sustained recovery from the December pullback reinforces a solid underlying bullish bias.
The immediate technical focus is on the critical support confluence near the 105.15 level, which aligns with the long-term trend line. A decisive break below this zone would signal a deeper technical correction is underway. Conversely, a firm rebound from this support would reaffirm the strength of the primary uptrend and serve as a strong continuation signal, likely propelling the pair toward the next key resistance levels.
The broader structure for AUDJPY remains bullish. The consistent respect of the long-term rising support line indicates sustained buying interest on dips. While a test of the 105.15 support could occur as part of normal market volatility, the prevailing trend favors a continuation higher provided this level holds. A sustained break below it would be required to signal a more significant trend reversal and shift the near-term bias to neutral or bearish. Traders are likely to view any approach to the 105.15 zone as a potential opportunity within the larger uptrend, pending bullish confirmation.
Resistance Levels: 106.25, 107.55
Support Levels: 103.95, 102.50
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