Insights from the Market Desk by FenzoFx.com

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Bitcoin Technical Analysis




FenzoFx— Bitcoin began consolidating after peaking at $98,000, dipping toward the $93,565 support and now trading slightly above it. The Stochastic Oscillator sits below 25, suggesting BTC is oversold and may rebound.

Immediate support lies at $92,565. If this level holds, the uptrend could resume, targeting $98,000, with potential to push toward the $99,560 resistance if buying pressure increases.


Bearish Scenario: A drop below $91,720 would invalidate the bullish outlook, potentially extending the decline to $88,830.

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LTC Holds Key Support, Eyes Resistance




FenzoFx—Litecoin bounced from the $81.80 support level and is currently trading around $84.60, just below the 50-period simple moving average. As long as LTC stays above $81.80, the outlook remains bullish, with potential to retest the $88.50 resistance.


A drop below $81.80 would invalidate the bullish view and could trigger a move toward the $77.40 support.

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Ethereum Consolidates Near the 50-SMA





FenzoFx—Ethereum remains in a bull market above the 50-period simple moving average, though momentum slowed after testing resistance at $1,857.0. At the time of writing, it trades around $1,812.0, consolidating near the 50-SMA. As long as the price stays above $1,690, the outlook remains bullish. A close above $1,857.0 could push ETH/USD toward the next resistance at $1,957.0.


Bearish Scenario: A break below $1,690.0 would invalidate the bullish outlook and could trigger a drop toward $1,538.0.

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Bullish Bitcoin Find Resistance




FenzoFx—Bitcoin remains bullish above the 50-period simple moving average but lost momentum near the $95,995 resistance. It currently trades around $94,650. A breakout above $95,995 could trigger a move toward $99,560. Conversely, a close below $92,875 may lead to a drop toward $91,720, with further downside potential to $88,830 if selling pressure intensifies.


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Crude Oil Analysis




FenzoFx—Crude oil trades sideways at approximately $63.0, slightly above the 50-period simple moving average. This indicates that the market is bullish. Immediate support is located at $61.75. The market outlook remains bullish as long as black gold trades above this level. In this scenario, the immediate resistance at $65.1 could be retested.


Bearish Scenario: The bullish outlook would be invalidated if crude oil dips below the immediate support. If this occurs, the next bearish target could be the support level at $58.90.

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Ethereum Trades Sideways: Bulls Need a Push



FenzoFx—Ethereum is trading sideways but remains above the 50-period simple moving average, signaling a bullish market. ETH is currently priced around $1,785. A close above $1,835 could trigger a move toward the $1,950 resistance.

Bearish Scenario: If Ethereum falls below $1,690, supported by the 50-period simple moving average (4-hour chart), it could decline toward the $1,565 support level.

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Bitcoin Walks into a Robust Resistance Zone




FenzoFx—Bitcoin remains bullish above the 50-period simple moving average at around $93,950. A doji candlestick on the daily chart signals potential consolidation or a bearish move.


Resistance spans from $94,990 to $99,420, suggesting a possible reversal. We recommend waiting for Bitcoin’s reaction before planning a strategy.

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GBP/USD Analysis





FenzoFx—GBP/USD fell from $1.3435, testing the 50-period simple moving average near $1.3276. The Stochastic Oscillator is nearing the 20 level, suggesting the US dollar is overbought in the short term. Support lies at $1.3202. The outlook remains bullish while above this level, though a close above $1.3295 is needed to confirm upward momentum. A retest of $1.3435 could follow.


Bearish Scenario: A drop below $1.3202 would invalidate the bullish view, potentially extending the decline to $1.3144 or even $1.3030 under sustained selling pressure.

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EUR/USD Analysis




FenzoFx—EUR/USD declined from $1.1571, as anticipated, due to overbought signals from the Stochastic and RSI 14 indicators. The pair now trades below the 50-period simple moving average, near $1.1350.

The Stochastic Oscillator has dropped below 20, suggesting the U.S. dollar is overvalued short-term. As long as the price remains above the $1.1259 support, the bullish outlook holds. Potential upside targets include $1.147 and $1.1571.

Bearish Scenario: If the price falls below $1.1259, bearish momentum may drive EUR/USD toward the next support at $1.1146.

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Crude Oil Tests Critical Support Level at $65.10




FenzoFx—Crude Oil is consolidating below the $65.10 resistance, trading around $64.30. The price remains above the 50-period SMA on the 4-hour chart, confirming a bullish trend. However, the Stochastic Oscillator crossing above 20 signals overbought conditions, suggesting a potential pullback.

If oil stays below $65.10, a bearish wave could follow, targeting $62.31 and then $61.75.

Bullish Scenario: A close and stabilization above $65.10 could trigger the uptrend, targeting $67.60.