Market analyst Lockridge Okoth reports that Bitcoin, Gold, and Silver have reached critical zones where a detailed price analysis suggests an imminent trend reversal, just as these assets test vital supports amidst elevated generalized fear in global financial markets.
On the one hand, technical data indicates that Bitcoin is trading around 95,624 dollars, testing the lower support of a well-defined descending channel. Meanwhile, Gold is consolidating near 4,081 dollars seeking to fill a fair value gap, and Silver attempts to stabilize at 50.88 dollars, struggling to maintain trendline support at key Fibonacci levels following a recent pullback.
Will bulls be able to defend technical supports and avoid a deep correction?
Likewise, the current context is marked by the discussion regarding the “death cross” in Bitcoin, a technical formation that has generated concern among traders. Despite selling pressure near the psychological six-figure mark, the awesome oscillator shows signs of bearish exhaustion, which could precursor a relief rally if buyers manage to defend the 94,504 dollar zone.
In this way, for Gold it is crucial to reclaim the fair value gap between 4,135 and 4,188 dollars to confirm bullish continuation. In Silver’s case, a break below the 61.8% Fibonacci level would expose much lower supports, so bulls must maintain the current structure to avoid drops towards the 48 dollar range.
To conclude, upcoming movements will depend on the ability of these assets to overcome their immediate resistances. The cryptocurrencies and precious metals market is at a turning point, where a successful defense of these levels could invalidate bearish theses and trigger a significant recovery towards new highs.
