J.J. Edwards’ Expert Market Analysis at FenzoFx

[FxNews]

Bitcoin Pulls Back After Testing Bearish Block

FenzoFx—Bitcoin hit the bearish order block and pulled back as expected. RSI 14 dropped below the overbought zone to, signaling increased selling pressure.

Immediate support lies at $120,946. A close below this level could extend the downtrend, targeting the bullish order block at $119,000.00. No bullish setup is expected until price consolidates near discount levels at $119,000.00 and $116,560.00.​

 

[FxNews]

Solana's Bullish Breakout: Eyes on $228.1

FenzoFx—Solana broke the structure on July 21, and then pulled back below this level, providing discount entries. We expect the uptrend to resume and target the resistance at $228.1.

A dip toward $170.0 followed by a better price for bullish entry at $161.2 could be ideal and low risk. Monitoring these levels for candlestick patterns, break of structure in 5 minutes, and fair value gaps to confirm if there would be a bounce and continuation of the uptrend from any of these two levels.​

 

[FxNews]

Litecoin Tests Bullish Order Block

FenzoFx—Litecoin is consolidating near the bullish order block, holding support at $122.1. The pair is currently moving sideways, with immediate resistance at $124.6.

Technically, the trend remains bullish as LTC forms higher highs and lows. A close above $124.6 with a fair value gap could extend the uptrend, targeting the recent high at $128.1 and potentially the March 2025 peak at $130.9.​

 

[FxNews]

Gold: Bullish Setup Builds Above $3,352.0

FenzoFx—Gold has taken out the previous day's high, currently testing this level as support. The immediate support is at $3,352.0, below the bullish candle that broke the resistance.

From a technical perspective, the uptrend will likely resume if the support holds. In this scenario, the next bullish target will likely be the order block with the highest resistance price at $3,380.​