FOREXcom

Bitcoin continues to trade under clear downside pressure after breaking beneath its long-standing ascending trendline in November. The recent rebound attempt stalled near the underside of that same trendline—now acting as dynamic resistance—and price has since rotated lower again. The broader structure shifted bearish once price fell below the 50-day SMA and 200-day SMA, both of which are now flattening or turning lower. This places the market in a momentum-cooling environment where sellers remain in control unless a sustained recovery develops above key moving averages. The chart also highlights confluence around the 38.2% Fibonacci retracement level drawn from the major swing low, which sits near the latest reaction zone. The initial bounce from this area shows that participants are aware of the level, though the follow-through remains limited for now. Momentum indicators reflect persistent weakness. The MACD remains in negative territory, with both signal lines tracking below zero and only modest signs of stabilization. RSI recently dipped into the 30-zone before attempting to lift, indicating oversold conditions were tested but broader momentum has not convincingly recovered. Overall, the chart continues to lean bearish as long as the market holds below the broken trendline and the major moving averages. Price behavior around the Fibonacci region will be an important gauge of whether this decline matures into a deeper corrective phase or begins to base out. -MW

Bitcoin continues to recover from its big falls and it has broken a few important short-term levels, although too early to say whether it had bottomed out. After all, the bearish trend line is still intact. $91.6K marks last support pre breakdown and top of rising channel - we have seen a bit of reaction from this level already. $95.0K another important level on the upside Support at 89.2K and then 87.9K if we go below recent low of 86266, bias would turn bearish again. By Fawad Razaqzada, market analyst with FOREX.com

Granted, it could easily be seen as catching a falling knife or position squaring before a key risk event, but the hammer candle that printed on the BTC/USD daily chart has me interested, particularly as it came from a zone where it’s attracted buying in the past. It makes me wonder whether we’ve seen the lows for now, opening the door for countertrend long setups in the near term. For one, BTC/USD has a decent track record for delivering reliable bullish and bearish reversal signals. The shooting star candle on 6 October kicked the bearish move off, with a bearish engulfing on 11 November coinciding with the resumption of the bear trend following a fleeting bounce. And that’s only the signals we’ve seen recently, with many others proving to be prescient earlier in the year. Secondly, the dip and reversal from beneath $92,000 is noteworthy given price action seen around the level over the past year. There were constant dips and bounces from beneath it in late 2024 and early 2025, before it eventually flipped to offering resistance after a successful bearish break in February. Now testing the level again from above, you can’t dismiss the signal entirely. While momentum indicators remain firmly bearish, favouring selling into strength, with RSI (14) now sitting in oversold territory, there’s grounds for countertrend long trades to be considered for those anticipating a short squeeze. For now, I’m watching the price action around $92,000 as we move towards the key macro event for the week, Nvidia’s earnings report. With a correlation coefficient of 0.87 with Nasdaq 100 futures over the past fortnight, it suggests how traders respond to the earnings update will likely influence how BTC/USD trades. Should the price hold $92,000, longs could be set above the level with a stop beneath for protection, targeting either former downtrend support located around $96,000 today or former support at $99,060. On Nvidia’s earnings report, I don’t think anyone can say with certainty as to what will transpire, other than history suggests the chip giant will likely breeze past top-line revenue forecasts with bullish guidance from CEO Jensen Huang. But that’s essentially consensus, meaning the performance of riskier assets in the aftermath may reflect whether it’s good enough to justify the hype. Sure, the recent pullback has lowered the bar somewhat, but the bar remains incredibly high. If it can impress, bitcoin may well bounce. Good luck! DS

Bitcoin has seen its fair share of turbulence along with equity markets in recent days, with the drop below the $100K level triggering a wave of stops and extending the sell-off. That level also happens to coincide with yesterday’s closing price, making it an obvious pivot; reclaiming it would be a constructive development. Yesterday’s low at $97,870 is another level to keep an eye on for short-term resistance. In terms of support, the zone around 95,200—an area of consolidation before this year’s breakout—has finally been revisited. If it fails to produce a bounce, the next meaningful target for sellers lies near 85,000, a sizeable distance below. At this stage, anything is possible, and the sensible approach is to watch how price behaves around these levels rather than fixating on a single direction. Each reaction offers a potential trading opportunity. My base case is for a bounce back to $100K from here. By Fawad Razaqzada, market analyst with FOREX.com

Gold has regained upward momentum following a short-term correction, with price now trading back above the 50-day simple moving average (SMA) near $3,900. This area acted as dynamic support after the strong breakout from the earlier ascending triangle pattern, which had contained price action between roughly $3,250 and $3,450 for several months. The MACD histogram is beginning to flatten after a recent bearish crossover, suggesting downside momentum may be fading. Meanwhile, the RSI has recovered from near-neutral levels to around 59, showing improving strength without yet entering overbought territory — a sign that the rebound still has room to develop. From a structural standpoint, the long-term trend remains constructive, supported by the 200-day SMA trending steadily higher near $3,390. As long as gold maintains support above the 50-day SMA, the bias stays broadly bullish within an established uptrend. -MW

Bitcoin’s recent decline has brought price action back toward the crucial $100,000 psychological and horizontal support zone, an area that has held firm multiple times since May. The daily chart shows that price briefly dipped below this level but quickly recovered, forming a potential short-term base. The 50-day SMA (blue) has turned lower and now sits above current price, suggesting weakening medium-term momentum, while the 200-day SMA (red) continues to act as dynamic support near $103,900. A sustained close below the latter could shift the broader structure toward a more prolonged consolidation phase. From a momentum standpoint, the MACD remains below the signal line and in negative territory, reflecting persistent bearish pressure, although histogram bars are showing early signs of contraction. The RSI is currently near 38, hovering just above oversold conditions, indicating that sellers may be losing strength in the short term. Overall, Bitcoin remains in a neutral-to-bearish phase, trading between $100,000 support and $107,300 resistance. A decisive breakout beyond either boundary could define the next directional move. -MW

Although Nvidia seemed poised to start the week with an optimistic bias, partly driven by the end of the U.S. government shutdown, which has generated a short-term confidence boost, the stock has begun to show a bearish tone in the current session, posting a decline of more than 2%. This weakness is mainly due to recent comments from the SoftBank Group, which sold its entire stake in Nvidia for approximately US$ 5.8 billion, raising concerns about a possible reduction in exposure to the semiconductor industry in the short term. This event has led to growing investor caution toward the stock and currently maintains a notable selling bias in the market. Uptrend Tries to Hold Despite recent downward corrections that have halted the stock’s steady advance, Nvidia has yet to show a decisive bearish move that would end the long-term uptrend line. In the broader picture, buying momentum continues to hold firm. However, if selling pressure continues to strengthen, the uptrend could be at risk, especially if the price falls below the 50-period moving average. RSI The RSI indicator line is gradually approaching the neutral level of 50, suggesting a balance between buying and selling forces over the last 14 trading sessions. As long as this equilibrium remains, the stock is likely to continue showing indecisive movements in the coming days. TRIX The TRIX indicator remains above the neutral level of 0, indicating that in the long-term outlook, bullish strength continues to dominate the average of exponential moving averages. As long as the TRIX stays above this level, the bullish bias may remain intact, allowing the uptrend line to continue defending its position over the coming weeks. Key Levels to Watch: 208 USD – Major Resistance: Corresponds to the area of recent highs. Price movements breaking above this level could trigger stronger buying pressure, reinforcing the current uptrend. 200 USD – Nearby Resistance: A key psychological level. Price action above this zone would reactivate a short-term bullish bias and reduce the risk of a trendline breakdown. 184 USD – Key Support: This is the most relevant support area, coinciding with the 50-period moving average and the Ichimoku cloud, which increases its significance. Downward movements reaching this zone could end the long-term bullish structure and lead to a period of indecision or the formation of a short-term consolidation range. Written by Julian Pineda, CFA, CMT – Market Analyst

The precious metal has begun to accumulate a two-day bullish streak in the short term, posting a gain of more than 2.8% as a new buying bias gains traction in the market. For now, the Federal Reserve’s probability chart once again shows a high likelihood of an additional rate cut at the central bank’s December meeting, which has partially limited the growth in U.S. Treasury yields—considered the primary alternative safe-haven asset to gold. Since bond yields have not continued to rise steadily, gold has managed to recover ground in the short term. If this dynamic persists, buying pressure could become increasingly relevant in the metal’s movements over the coming sessions. Attempting to Regain the Uptrend Since the last days of August, gold had maintained a steady upward trend, which was recently interrupted, leading to a period of sideways consolidation. However, the current buying pressure could push the price to hold above the psychological level of $4,000 per ounce. If the price manages to remain in this zone and advance again toward its historical highs, it could reactivate the upward trendline that had fallen into the background in recent weeks. RSI The RSI indicator line has begun to move away from the neutral level of 50, indicating that the average momentum of the past 14 sessions has turned bullish in the short term. As the RSI continues to move further away from the neutral zone, buying pressure could strengthen, supporting greater bullish momentum in the coming sessions. MACD The MACD histogram has started to show a steady positive slope, allowing the indicator to cross above the neutral zero line in the short term. If the histogram remains above this level, it could reinforce the bullish bias in the short-term moving averages, supporting a more consistent upward momentum in the gold market. Key Levels to Watch: $4,300 – Historical High Zone: This level represents the most important bullish barrier on the chart. Price movements reaching this area again could reactivate a strong upward trend in the coming sessions. $4,100 – Nearby Resistance: This level coincides with a technical neutrality zone observed in recent weeks. It could act as a temporary barrier, potentially triggering short-term pullbacks if buying pressure fails to fully stabilize. $3,900 – Key Support: This level aligns with the 50-period simple moving average. A break below this point could invalidate the current bullish structure and pave the way for a more dominant bearish bias in the short term. Written by Julian Pineda, CFA, CMT – Market Analyst

I think it is fair to say that the $4K level is super important in as far as gold’s short-term direction is concerned. A potential breakdown below $3930 would signal gold has decided to stay below this $4K level. The $3930 level is where gold found support from earlier this week, so a break below it would now be quite significant from a technical standpoint. On the upside, $4045 is where gold needs to climb above to trigger technical selling above it. This was the high from last Friday. While gold decides which direction to break, I don’t have too strong a view on the metal currently. Granted, the fresh weakening of the US dollar amid signs of weakness in labour market as reported by Challenger yesterday, and the drop in consumer confidence as reported by the UoM today, both point to potential gains for gold. However, the metal has been trending in the same direction as equity markets. Therein lies the problem. With stocks struggling, gold has been unable to find any fresh haven demand to give it a lift above $4K. By Fawad Razaqzada, market analyst with FOREX.com

Bitcoin has come under renewed selling pressure, sliding sharply toward the key $100,000 psychological and structural support area. The price has now broken below the 50-day simple moving average (SMA) and is testing the 200-day SMA, signaling a significant test of trend integrity after months of consolidation between $100,000 and $123,000. The 50-day SMA has turned lower, reflecting weakening medium-term momentum, while the 200-day SMA remains upward-sloping, maintaining the broader bullish framework. A daily close below the $100,000 support would represent a potential shift in long-term sentiment, whereas a rebound from this zone could keep Bitcoin within its established range. Momentum indicators underscore the recent downside pressure: the MACD remains below its signal line, extending its bearish crossover, and the RSI has slipped to around 35, approaching oversold conditions last seen during earlier correction phases. Overall, Bitcoin is at a pivotal juncture — the $100K region serves as both a technical and psychological inflection point that may determine whether the broader uptrend can reassert itself or give way to deeper consolidation. -MW