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Today Technical Analysis: Bitcoin Resumes Downtrend After Failing To Sustain Break Above $70,000

February 16, 2026, 08:24

Bitcoin Resumes Downtrend After Failing To Sustain Break Above $70,000

Bitcoin Technical Analysis

Bitcoin is currently trading around $68,340 after failing to sustain gains above the $70,000 psychological resistance zone. Price structure shows a clear lower high formation following rejection near $71,000, confirming short-term bearish pressure.

The moving averages (5, 10, 30) are beginning to roll over. Price is now trading below the short-term moving averages and pressing toward the 30-period moving average, which is flattening.

MACD confirms the loss of momentum. The MACD line is below the signal line. Although bearish momentum is not accelerating aggressively, it remains dominant.

Key support sits at $67,800–$68,000. A clean break below this area exposes $66,500, followed by the previous swing low near $65,100. On the upside, buyers must reclaim $69,500 first, then $71,000 to resume the bullish structure.

Bitcoin 1H Chart

Bitcoin 1H Chart 16-02-2026
Resistance$69,047$69,964$70,943
Support$68,062$67,273$66,740

Gold Technical Analysis

Gold is trading around $4,980 after failing to sustain above the $5,000 psychological level. The structure shows a sharp bearish impulse, followed by a corrective rebound that is now losing strength.

Price is hovering near the short term moving averages, but the 30-period moving average is slightly downward sloping. The shorter moving averages are compressing, signaling consolidation after volatility.

MACD shows that bearish momentum peaked during the selloff and has since faded.

Support is located at $4,950–$4,960. A break below that opens $4,920 again. Resistance stands at $5,020, then $5,100–$5,120. Only a sustained move above $5,120 would restore strong bullish momentum.

Gold 1H Chart

Gold 1H Chart 16-02-2026
Resistance$5,031$5,082$5,119
Support$4,964$4,933$4,905

EURUSD Technical Analysis

EURUSD is trading near 1.1866 after a strong rally tin January. The pair is currently in a consolidation phase following that impulsive breakout.

Price remains above the 30-period moving average, and the short-term moving averages are still positively aligned, although momentum has slowed. The structure shows higher lows, which keeps the short term bullish bias intact.

MACD shows momentum cooling after the strong bullish impulse. Support sits at 1.1820–1.1840. A break below that exposes 1.1765. Resistance remains at 1.2000, then 1.2080. A breakout above 1.2080 would likely trigger another impulsive leg higher.

EURUSD 1H Chart

EURUSD 1H Chart 16-02-2026
Resistance1.18851.90001.1915
Support1.18471.18221.1800
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