Insights from the Market Desk by FenzoFx.com

[FxNews]

BCH Consolidates Below $620 Highs




FenzoFx—Bitcoin Cash is consolidating after forming equal highs at $620.0. While the trend remains bullish, the current phase may push toward lower support.

Equal highs signal low liquidity, often followed by a move to lower levels before a rally. The bullish order block at $514.0 is a key discount level, offering a potential entry for buyers targeting $640.0 resistance.

[FxNews]

Bitcoin Tests Key Support at $115K




FenzoFx—Bitcoin's downtrend extended to $115,000, filling the bullish fair value gap now acting as support. The current price equals 25.0% of the previous bullish leg. If BTC closes and stabilizes below $115,000.0, the downtrend may deepen toward the $112,000.0 support order block.


Conversely, a close above $117,445.0 would invalidate the bearish outlook. This level marks the last bearish candlestick pattern and a break of structure. If confirmed, BTC/USD could recover recent losses, targeting resistance at $119,339.0.

[FxNews]

Gold: Bearish Momentum Poised to Resume




FenzoFx—Gold opened the London session by sweeping liquidity below the previous day's low and is now consolidating above the $3,342.0 support. Technically, bearish momentum is expected to resume. A break below $3,342.0 could lead XAU/USD to partially fill the bullish FVG, with support at $3,314.0.

[FxNews]

GBPJPY: Liquidity Sweep Triggers Downside




FenzoFx—GBP/JPY swept the previous day's high, forming a bearish long-wick candle with resistance at 200.2. A bearish fair value gap appeared on the 5-minute chart, signaling increased selling pressure after liquidity was swept.


Technically, GBP/JPY may first target the Asia low at 199.4. If bearish momentum continues, the move could extend to the previous day's low at 198.7. This outlook is invalidated if the pair closes above today's high at 200.3.

[FxNews]

XRP Holds Support, Eyes Break Above $3.31





FenzoFx—XRP (Ripple) holds above the fair value gap (FVG), with key support at $3.11. Technically, the uptrend may resume if XRP closes and stabilizes above $3.31, supported by a bullish FVG on lower time frames like M10 or M15.


If this scenario unfolds, the next bullish target is the order block with highs at $3.56.

[FxNews]

Litecoin Tests Bullish Order Block



FenzoFx—Litecoin is consolidating near the bullish order block, holding support at $122.1. The pair is currently moving sideways, with immediate resistance at $124.6.

Technically, the trend remains bullish as LTC forms higher highs and lows. A close above $124.6 with a fair value gap could extend the uptrend, targeting the recent high at $128.1 and potentially the March 2025 peak at $130.9.

[FxNews]

Solana's Bullish Breakout: Eyes on $228.1




FenzoFx—Solana broke the structure on July 21, and then pulled back below this level, providing discount entries. We expect the uptrend to resume and target the resistance at $228.1.


A dip toward $170.0 followed by a better price for bullish entry at $161.2 could be ideal and low risk. Monitoring these levels for candlestick patterns, break of structure in 5 minutes, and fair value gaps to confirm if there would be a bounce and continuation of the uptrend from any of these two levels.

[FxNews]

Bitcoin Pulls Back After Testing Bearish Block




FenzoFx—Bitcoin hit the bearish order block and pulled back as expected. RSI 14 dropped below the overbought zone to, signaling increased selling pressure.


Immediate support lies at $120,946. A close below this level could extend the downtrend, targeting the bullish order block at $119,000.00. No bullish setup is expected until price consolidates near discount levels at $119,000.00 and $116,560.00.

[FxNews]

Litecoin Eyes Buy Side Liquidity Shift After $124.2 Sweep




FenzoFx—Litecoin remains in a bullish channel, with the current wave originating from the order block at $115.2. LTC now trades around $121.7. Yesterday, it swept liquidity above the $124.2 resistance, signaling a potential shift toward bearish pressure. If momentum fades, price may revisit the $115.2 support zone.

However, if LTC/USD closes above $124.2, this bearish outlook is invalidated. In that case, the next target is the order block with resistance at $129.1.

[FxNews]

Oil Left Bulls Bruised and Bankrupt: A Silver Lining for Recovery



FenzoFx—Crude Oil remains bearish, taking out bulls and breaking July's low this week—an unexpected move for the month. The commodity currently trades near $65.2, aligning with its prior market structure shift from bearish to bullish, marked by a bullish engulfing on June 6.

Immediate resistance stands at July's low of $65.5. If price breaks above, Oil may begin to recover some losses. Technically, the next upside target is the order block at $67.29.