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17 June 2025,07:15

Chart The Market

Chart the Market (17/06/2025)

17 June 2025, 07:15

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BTC, D1:

Bitcoin (BTC) continues to trade with a bullish undertone, staging a recovery from previous declines and forming a higher-low price structure—typically a positive signal for market momentum. However, the cryptocurrency has yet to retest its prior peak near the $109,900 level, a critical resistance point that must be breached to confirm a sustained bullish trend.

A decisive breakout above this level would reinforce the emerging uptrend, aligning with the higher-low formation and potentially signaling a renewed rally in BTC.

Momentum indicators remain supportive: the Relative Strength Index (RSI) is holding above the midpoint, while the MACD recently crossed higher, recovering before falling below the zero line. Together, these signals suggest bullish momentum remains intact, though a confirmed breakout is required to validate further upside potential.

Traders will be closely watching BTC’s ability to challenge and surpass the $109,900 threshold. A failure to do so could trigger near-term consolidation, while a successful breakout may pave the way for further gains.

Resistance Levels: 111,745.00, 117,200.00

Support Levels: 104,500.00, 97,650.00

GBPJPY, H4

The British pound surged against the Japanese yen, with GBP/JPY decisively breaking above the key resistance level near 196.15—a zone that had repeatedly capped gains in recent sessions. The pair has since held above that threshold, establishing it as new support and effectively nullifying the risk of a false breakout. The technical setup now suggests a bullish continuation.

The broader trend reinforces this view, with GBP/JPY consistently forming higher lows since its April trough, pointing to sustained buying interest. Momentum indicators also favor further upside: the Relative Strength Index (RSI) is on the verge of entering overbought territory, while the MACD is showing signs of a fresh rebound above the zero line—both signaling the emergence of renewed bullish momentum.

With bullish momentum gathering and prior resistance flipping into support, GBP/JPY could be poised to test new highs in the near term. Traders will be watching for any catalyst that could fuel a breakout rally, especially ahead of central bank policy updates or geopolitical developments.

Resistance Levels: 198.70, 200.60

Support Levels: 194.10, 192.05

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Chart the Market (17/06/2025)

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