J.J. Edwards’ Market Analysis at FenzoFx
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Bitcoin Bounced from a High-Volume Area at the 103,363 Support.
FenzoFx—Bitcoin dipped to $105,175, creating a bearish fair value gap that highlights selling pressure. Immediate support is at $103,463, backed by high volume, while resistance stands at $107,792. If support holds, BTC/USD could rise toward $112,000.
A drop below $102,185 may accelerate the downtrend toward $93,363, the previous monthly low.
USD/CAD Analysis
FenzoFx—USD/CAD surged to 1.3686, a resistance zone backed by a bearish Fair Value Gap. Stochastic shows 81.0, signaling short-term overpricing. The market remains bearish below 1.3729, with fundamentals pointing to a stronger CAD.
A decline toward 1.362 is likely if USD/CAD stays below 1.3729.
Bitcoin Cash Rebounds from $456.0 as RSI Shows Bullish Divergence.
FenzoFx—Bitcoin Cash swept liquidity below $456.0 during NY midnight and is now rising around $464.0. RSI 14 signals bullish divergence, suggesting growing momentum. If BCH holds above $456.2, it could target $472.0 and potentially $481.2.
The bullish outlook is invalidated if BCH stabilizes below $456.0.
Bitcoin Consolidates Liquidity Around $105,000
FenzoFx—Bitcoin is trading sideways near $104,650 after a sharp drop from $109,000, forming a high-liquidity zone with potential for a breakout.
The $102,746–105,266 range shows strong accumulation, offering support. BTC remains bullish above the previous week's low, but must close above the previous day's high to resume its uptrend.
Ethereum Rejected By Strong Resistance, A Bearish Outlook
FenzoFx—Ethereum is consolidating around $2,525 after being rejected by the $2,813.0 resistance, a strong supply zone. Immediate support lies at $2,446.0. If ETH closes below this level, a move toward $2,080 is likely.
The bearish outlook is invalidated if ETH stabilizes above $2,813.0.
SOL/USD Eyes Recovery After Retesting Monthly Low
FenzoFx—Solana trades in a bear market, below the 50-period SMA. Currently, SOL/USD trades at approximately $148.37, testing the previous monthly low, which aligns with a bullish fair value gap and is backed by a high-volume node area.
A close and stabilization above $149.3 can spark the uptrend. In this scenario, the next bullish target could be the $168.38 resistance.
CAD/JPY Holds Trendline Support with Bullish Bias Intact
FenzoFx—CAD/JPY dipped from 107.34, testing the bullish FVG as support while the price maintains position above the ascending trendline.
The Stochastic Oscillator signals oversold, meaning the market can potentially consolidate or reverse from this point. That said, the market outlook remains bullish as long as CAD/JPY trades above the previous week's low at 105.61 and the trendline.
In this scenario, we expect the currency pair to retest the 107.35 high. Please note that the bullish outlook should be invalidated if the price declines and stabilizes below 105.61.
Bitcoin Rebounds Above $105K After Liquidity Sweep
FenzoFx—Bitcoin swept liquidity below $100,703.0 and rebounded to around $105,400.0, just above the volume profile point of interest.
Immediate resistance lies at $106,135.0. A break above this level could lead to a retest of $107,702.0. However, if resistance holds, BTC may consolidate toward $102,662.0, supported by Stochastic overbought signals.
Bitcoin Cash Faces Pressure Below Key Resistance Zone
FenzoFx—Bitcoin Cash rose from $437.0 support, now trading near $461.3 and testing resistance backed by volume profile and the 50-period SMA.
If BCH stays below $470.8, bearish momentum may resume, targeting $437.0 and potentially $421.2. A bullish breakout could follow a close above $470.8, aiming for $478.0.
Bearish Wave Builds Below Key ETH Supply Zone
FenzoFx—Ethereum failed to break above $2,813.0 and is now trading around $2,430 after trimming nearly 5.0% of recent losses.
The $2,687.0 area, backed by the 50-period SMA, acts as a premium supply zone. A bearish wave could follow, targeting $1,779.0, supported by prior monthly lows and RSI divergence.
Overbought LTC Faces Pressure at $85.0 Barrier
FenzoFx—Litecoin is building liquidity near $85.0, a strong resistance backed by volume, with Stochastic at 92.0 indicating short-term overbought conditions.
If LTC dips below $83.86, a bearish wave may follow toward $82.33 and $79.51. Conversely, a close above $87.99 could resume the uptrend toward $88.98.
Bitcoin Climbs Above $107K with Overbought Signals in Play
FenzoFx—Bitcoin closed above the $107,792 resistance after breaking the previous day's high. RSI and Stochastic indicators show overbought conditions, signaling short-term overpricing.
BTC may test the $109,000.00 resistance next, followed by a potential pullback toward $104,618.00, offering a favorable entry point for bulls.
BCH Faces Resistance at $500.0 Amid Bearish Signals
FenzoFx—Bitcoin Cash rose to $500.0, a resistance zone backed by the June 19 high. Stochastic reads 85.0, indicating short-term overpricing.
The 4-hour chart shows a possible double top pattern, suggesting consolidation. If BCH stays below $500.8, it could target $494.8 and, if selling continues, drop to $480.9.
Gold Builds Bullish Momentum After $3,294.0 Rebound
FenzoFx—Gold bounced from $3,294.0, forming a double bottom pattern as XAU/USD consolidates near $3,330.0. Stochastic has exited oversold territory, signaling strengthening bullish momentum.
If $3,294.0 holds as support, the uptrend may continue toward the $3,393.0 target.
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