J.J. Edwards’ Market Analysis at FenzoFx

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BCH: Weak Volume Signals Pullback Risk​

FenzoFx—Bitcoin Cash is trending upward after tapping $606.80 buy-side liquidity in early October. Despite higher highs, the cumulative volume profile shows lower lows, signaling weak buying interest.

The first manipulation occurred after exiting the accumulation zone (purple box), but price held above its mean threshold. A dip below $580.10 is expected to sweep liquidity. If BCH rebounds with a bullish engulfing pattern, the next target is $650.90.

However, if price closes and stabilizes below $580.10, the bullish outlook is invalidated, and BCH may drop toward equal lows at $533.40.

 

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Gold Eyes $4,000: 3 Key Buy Levels​

FenzoFx—Gold is in a strong bull market. Today, the commodity began the Asian session with a minor correction, down by 0.25%. Currently, XAU is testing the bullish fair value gap.

There exist two levels to join the bull market and target $3,977.0. The first level is $3,950.0, current price, and the second level, which is more recommended, rests near the previous day's low at $3,922.0. This level is backed by the hourly bullish fair value gap.

Please note that if the price closes and stabilizes below $3,922.0, XAU/USD could retest the broken resistance at $3,897.0. It is advisable to enter the bull market with small-size trades at these levels, targeting $4,000.0.

 

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GBP/JPY Rally Leaves Gap Behind​

FenzoFx—GBP/JPY broke above 201.27 resistance. This week’s rally left a large opening gap between 198.87 and 200.83. On Monday, only 25% of the gap was filled before price surged 1.30%.

Technically, the pair is overbought. A dip toward the gap zone, especially near 198.87 support, may offer a discounted entry. However, if the pair closes below 197.48, the bullish outlook is invalidated and price may drop toward the equal lows at 193.40.

 

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Nasdaq Nears ATH as Volume Diverges​

FenzoFx—Nasdaq is up by 0.20% today. The majority of the gains were in the London session. As we approach the NY session, the price is getting closer to the $25,080.0 all-time high.

However, the cumulative volume profile signals caution. The indicator is making lower lows, while the price is in an uptrend. Therefore, we expect the price to dip in today's NY morning session.

In this scenario, we expect the price to close the opening gap, which rests at $25,000.0. The next support in focus is the October 2 and October 3 close price, $24,924.0. Please note that these levels can provide a discount price to plan long strategies.

 

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XRP Faces Bearish Gap Pressure​

FenzoFx—Ripple (XRP) lost its bullish bias after dipping below $2.940 support, triggering a bearish fair value gap on the 4-hour chart. Selling pressure eased near $2.796 liquidity void, where volume dropped sharply signaling reduced momentum and potential consolidation.

Technically, XRP/USD may consolidate toward $2.9570, the mean threshold of the bearish gap. If price holds below this level, a new downtrend could emerge, targeting the equal lows at $2.690. Please note that the bearish outlook remains valid unless XRP forms a new higher high.

 

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LTC: Sell Volume Is Being Absorbed, Bullish Run in Focus​

FenzoFx—LTC sits in the upper quadrant of the bullish fair value gap, aligned with anchored VWAP. Selling volume is rising, but price remains stable—suggesting absorption by large buyers.

Litecoin is currently at a premium, making it less ideal for new entries. We recommend monitoring the $109.3 support zone, backed by a low volume node, for a better entry.

If this level holds, LTC may rally toward $128.60 and $134.10. A break below $109.3 would invalidate the bullish outlook.

 

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Wait Zones for Euro After Accelerated Downtrend​

FenzoFx—Euro's downtrend escalated after Germany's exports data fell by 0.50%. Currently, the equal lows at $1.1574 are in focus. This level will likely be targeted by bears.

From a technical perspective, we expect EUR/USD to consolidate after tapping into the liquidity below $1.1574. In this scenario, the market will likely rise toward $1.1704 or a higher resistance level. In the longer term, we expect the downtrend to resume toward the bullish fair value gap with support at $1.1438.

Please be aware not to grab a falling knife, because the current price does not offer a premium entry to join the bear market. We advise waiting for the Euro to consolidate after profit-taking at or below the equal lows.

 

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BCH Bulls on Thin Ice: Watch $580 Closely​

FenzoFx—Bitcoin Cash dropped from $615.90 and now trades near $575.0, testing the bullish fair value gap as support. The 4-hour chart shows price respecting the bearish FVG mean threshold, while cumulative volume delta declines—signaling bearish pressure.

Immediate resistance is at $592.20. If selling continues, BCH may fill the bullish FVG down to $580.0. A break below $580.40 could open the path toward equal lows at $533.40. The bearish outlook remains valid unless BCH closes above $592.20.

 

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Bitcoin Leaps for a New Bullish Run Above this Resistance​

FenzoFx—Bitcoin remains bullish. Yesterday, price dipped below Tuesday’s low, but failed to close beneath it. This support zone is backed by a bullish fair value gap and anchored VWAP from September 28.

Immediate resistance stands at $122,335.0. If bulls close above this level, BTC/USD could target $124,254.0, followed by all-time-high. However, the bullish outlook is invalidated if BTC/USD closes below recent lower lows.

 

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Bitcoin Eyes Double Top After Selloff​

FenzoFx—Bitcoin is consolidating near $112,160.00 after a major selloff, testing this level as support. Price action shows a double top at $116,078.

From a technical view, BTC may aim for this level if it holds above immediate support at $112,143.0. Please note that a close below $112,143.0 could trigger a deeper downtrend, with the next bearish target likely at $100,000.0.

 

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Volatility Rises as ETH Tests Support​

FenzoFx—Ethereum rejected resistance at $4,233.00, aligned with the bearish fair value gap. Friday’s selloff widened the trading range, increasing risk for ETH traders.

The trend remains bearish while price stays below $4,233.0. Critical support lies at $3,825.0. If ETH closes below this level again, the downtrend may escalate toward $3,368.0. Traders should approach cautiously, as the market is in an uncertain phase with potential for volatile price swings.

 

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No Bullish Setup as LTC Stalls​

FenzoFx—Litecoin is trading sideways near $98.3 after Friday’s sharp selloff. The 1-hour chart shows price respect at $92.40 minor support, but declining cumulative volume delta signals weakening buyer interest.

The overall trend remains bearish, with resistance at $102.4. LTC may tap into buyside liquidity above $102.9, but failure to hold could extend the downtrend toward $85.5 and $78.6. There’s no bullish setup at the time of writing. Traders should remain cautious, as the market is volatile and prone to erratic swings. Happy trading, everyone.

 

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Key Levels to Buy Gold Today​

FenzoFx—Gold is trading higher today, made a new ATH. As of this writing, XAU/USD trades at approximately $4,222.0, testing the ascending trendline as support. Going long is still in play, but we suggest waiting for a correction toward $4,177.0.

This area is last day's opening gap in the futures market. Therefore, there is a high probability for the price to decrease near this level before a new leg upward.

 

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XRP Holds Gains Amid Accumulation​

FenzoFx—XRP (Ripple) is up 3.0% today, trading at $2.464 above the 8-period SMA. Rising volume suggests accumulation. If the price holds above $2.318, XRP/USD may target $2.6480. Continued buying pressure could invalidate the downtrend and open the path to the next liquidity zone at $2.956.

However, if the price drops below $2.3180, the bullish scenario is invalidated, and accumulation may extend toward the $2.000 psychological level. Traders should monitor support levels closely as momentum builds.

 

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Gold Offer Buy Setup at These Levels​

FenzoFx—Gold dipped 2.00% today, nearing the ascending trendline. This pattern has been seen multiple times in the current and previous month where Gold dips to provide new discount prices to go long.

Interestingly, volume did not decrease as significantly as the price. This means there are buyers that are constantly buying Gold or the current decline is manipulation. From a technical perspective, XAU/USD is in an uptrend.

The $4,236.0 support, which aligns with the trendline, is a decent entry point to join the bull market if the buying volume is significant at this level. The stop should be below $4,200.0 for this setup, targeting the all-time highs.

 

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This Could be the Final Chance to Catch Gold at $4,000​

FenzoFx—Gold lost 8.00% last day and slightly touched last week's low at $4,007.0. Currently, the price closed above the SMA 8 with a prior 4-hour long-wick bullish candlestick pattern. This price action promises the uptrend will likely resume.

However, wicks are considered as gaps in trading. Therefore, we expect the price to decline toward $4,045.0. If this level holds, the uptrend will likely resume, targeting $4,200.0 in the short term. On the other hand, if the price closes below $4,007.0, we expect the price to revisit $3,900.0.

Please note that last day's sell-off is NOT a market crash. The price only visited last week's low, meaning it erased one week's earnings.

 

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GBP/USD Bullish Setup is Above 1.3371​

FenzoFx—GBP/USD is trading in the previous week's range while defending the bullish fair value gap from October 14. The price is yet below the 20 period SMA, despite the oversold signal by stochastic and the impulsive upside momentum yesterday.

From a technical perspective, GBP/USD can potentially aim for the weekly highs at 1.3471. However, for this scenario to unfold, the price must close above the 1.3371 immediate resistance. Furthermore, for the bullish outlook to remain valid, the mean threshold of the 4H fair value gap must remain intact.

 

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Bitcoin Tests Bearish Liquidity Zone​

FenzoFx—Bitcoin is up 7.50% since last Monday, trading around $115,600.00. The wide range from the recent selloff to the bounce at $103,517.00 adds risk. The bearish outlook remains valid as BTC nears the bearish fair value gap with a mean threshold at $116,000.00.

Traders should watch for bearish structure breaks and engulfing candles in the orange zone. If $116,600.00 holds, BTC may dip to $112,325.00. On the flip side, a close above $116,600.00 could fill the gap and reach $119,714.00. Note: Sunday’s bullish candle formed in a low-liquidity session, with institutional activity limited.

 

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XRP Approaches Key Resistance Zone​

FenzoFx—Ripple (XRP) is up 12.00% since Thursday, trading near $2.650 and approaching resistance at $2.7700. Despite holding above the ascending trendline after Friday’s wick, XRP faces two key resistances: $2.7700 and the descending trendline.

Volume remains flat, suggesting buying pressure is being absorbed by dormant sellers. The outlook remains bearish unless price breaks above $3.103. If $2.7700 holds, XRP may decline toward $2.224, with further downside targets at $2.073 and $1.922.

 

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Bitcoin Cash Faces Resistance at $568​

FenzoFx—Bitcoin Cash closed bearish after testing the $568.7 resistance. BCH is now trading near $555.0, inside the bearish fair value gap. The market outlook remains bearish as price closed below the bullish channel, with $568.0 acting as key resistance.

If this level holds, BCH/USD may dip toward $515.0. A close and stabilization above $568.0 would invalidate the bearish setup and suggest a bullish move toward $615.0.