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Today Technical Analysis: Bitcoin Retreats After Breaking Above $123,000

July 15, 2025, 07:01

Bitcoin shows a strong bullish trend, but currently prices are trending downward after peaking at $123,215.

Price is now making lower highs and lower lows on the hourly chart, indicating a clear correction phase following the strong rally earlier.

5-period MA crossed below moving averages MA(10) and MA(30), confirming the bearish correction. Price is trading below all three moving averages, which shows downside momentum is active. MACD line diverges from the signal line, confirming increasing downside pressure.

The crypto currency is in a healthy pullback, but losing $116,000 may trigger deeper correction toward $113,000 or even $110,000.

Bitcoin (BTCUSD) 1H Chart

Bitcoin (BTCUSD) 1H Chart 15 July
Resistance$118,900$120,568$122,144
Support$116,305$115,263$113,178

USDCHF is currently in a sideways range between 0.7920 and 0.7995. The pair is consolidating, with no clear breakout or direction.

Moving averages MA(5,10,30) are flattened and interlaced, reflecting low volatility and indecision. Price is hovering just below the short-term MAs, which could act as dynamic resistance. MACD line is flat and near the zero line, indicating lack of momentum.

Overall, a break above 0.7995 would likely trigger bullish movement toward 0.8020. However, a drop below 0.7920 opens downside potential to 0.7880.

USDCHF 1H Chart

USDCHF 1H Chart  15 July 2025
Resistance0.79850.79950.8000
Support0.79540.79360.7920

Silver remains in a bullish medium-term trend, despite the recent pullback. The precious metal pulled back from $39.00 psychological level and bounced near $38.00, showing buying interest at support.

The 5-period MA is slopping upward. Price is just below 30 MA, which may act as dynamic resistance.

Bearish momentum is decreasing on MACD, shown by the shrinking red histogram bars. The indicator is still below the signal line but showing signs of potential crossover soon, which represents a bullish signal.

If price breaks above moving average MA(30) and MACD crosses bullish, a spike back toward $39.00 is likely. However, dropping below $37.80, may trigger further drops toward $37.20.

Silver 1H Chart

Silver 1H Chart 15 July 2025
Resistance$38.49$38.80$39.14
Support$37.90$37.64$37.27

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