Published: 20 January 2026,06:38
Chart The Market
BTC, H4:
Bitcoin is facing increasing downside pressure, testing a critical juncture at its prevailing uptrend support line. A confirmed daily close below this level would represent a significant structural breakdown, invalidating the recent bullish pattern and establishing a bearish near-term bias.
The weakening price structure is substantiated by deteriorating momentum indicators. The Relative Strength Index is declining toward oversold territory, reflecting persistent selling pressure. Concurrently, the Moving Average Convergence Divergence indicator has executed a bearish crossover below its zero line, confirming that a fresh wave of negative momentum is accelerating.
BTC is at a decisive technical inflection point. The violation of the uptrend support, coupled with bearish momentum confirmation, would signal a high-probability shift to a corrective phase. The bearish scenario would be invalidated only by a swift recovery and sustained move back above the $92,500 resistance, which would instead suggest the support test was successful. Traders should monitor for a decisive close below the trendline to confirm the structural breakdown.
Resistance Levels: 93,581.00, 101,365.00
Support Levels: 89,915.00, 85,635.00
EURUSD, H4
The EURUSD pair has broken decisively above its recent downtrend channel, suggesting a potential bullish reversal following a decline of nearly 2%. This structural shift indicates that selling pressure may have exhausted, allowing for a corrective rebound.
The immediate technical focus is the resistance level at 1.1730, which coincides with the 61.8% Fibonacci retracement of the prior downtrend. A sustained break above this barrier would provide significant confirmation of the bullish reversal and open the path toward higher resistance zones. The move is supported by improving momentum indicators, with the Relative Strength Index rebounding from oversold levels and the Moving Average Convergence Divergence indicator generating a bullish golden cross.
The breakout from the downtrend channel has shifted the near-term bias from bearish to cautiously bullish. However, the rally requires confirmation through a sustained move above the 1.1730 Fibonacci resistance to signal a more durable trend reversal. Until that level is conquered, the move remains susceptible to a pullback. The bullish scenario would be invalidated by a reversal back below the 1.1680 support, which would suggest a false breakout and potential resumption of the broader downtrend.
Resistance Levels: 1.1730, 1.1805
Support Levels: 1.1584, 1.1500
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