Chart the Market (04/07/2025)

BTC, H4: 

Bitcoin extended its rally in the latest session, breaking decisively above its downtrend channel and signaling a shift in market structure that favors a bullish bias. The largest cryptocurrency by market capitalization climbed to a fresh June high of $110,600, underlining the strength of the ongoing upward momentum.

Momentum indicators point to further upside potential. The Relative Strength Index (RSI) has rebounded sharply from near oversold levels, reflecting renewed buying interest, while the MACD has formed a bullish golden cross above the zero line, reinforcing the positive momentum.

As long as BTC maintains its footing above key support levels, the break of the bearish structure suggests the potential for Bitcoin to extend its gains and retest higher resistance levels in the near term.

Resistance Levels: 111,745.00, 117,200.00

Support Levels: 104,800.00, 97,600.00

AUDUSD,  D1

The Australian dollar extended its advance against the greenback, with the AUD/USD pair trading firmly within a well-defined uptrend channel—highlighting the prevailing bullish momentum. The pair has now reached its highest level since last November, though it faces immediate resistance just below the psychological 0.6600 handle.

A decisive break above this level could serve as a strong bullish confirmation, potentially opening the door for further gains in the near term.

Momentum indicators reinforce the positive outlook. The Relative Strength Index (RSI) has remained consistently above the midline, signaling underlying strength, while the MACD continues to trend above the zero line. The latest golden cross formation in the MACD further suggests the emergence of fresh bullish momentum.

Should the pair sustain its position above key support levels, the bullish trajectory is likely to remain intact, with market attention now focused on whether the 0.6600 barrier can be convincingly breached.

Resistance Levels: 0.6644, 0.6715

Support Levels: 0.6530, 0.6415