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On-chain data shows the recent bearish Bitcoin price action has put the network’s short-term holder whales into a significant unrealized loss. New Bitcoin Whales Have Dived Underwater In a new post on X, on-chain analytics firm CryptoQuant has discussed about the latest trend in the profit-loss situation of the short-term holder Bitcoin whales. The “short-term holders” (STHs) broadly refer to the BTC investors who purchased their coins within the past 155 days. The STH whales (or “new whales”) are the holders with 1,000+ BTC (equivalent to $110.8 million at the current exchange rate) who got into the market during the last five months. Now, here is the chart shared by the analytics firm that shows the trend in the net unrealized profit/loss held by the STH whales over the past year: As displayed in the above graph, the Bitcoin STH whales have seen their profit-loss balance lean heavily into the underwater territory following the recent bearish wave in the cryptocurrency’s price. This means that the members of this cohort are now carrying a heavy amount of net loss. More specifically, the STH whales are holding about $6.95 billion in unrealized loss, which is the largest for the group since October 2023, about two years ago. This indicates significant pressure among big-money investors, especially considering that the STHs control a notable chunk of the whale Realized Cap. The Realized Cap is an indicator that basically measures the total amount of capital that Bitcoin investors have put into the cryptocurrency. The Realized Cap of the new whales, in particular, corresponds to the big-money capital that came into the network during the past 155 days. From the above chart, it’s apparent that the new whales today control around 45% of the total whale Realized Cap, which is a new record. Considering that the cohort as a whole is underwater, this capital is naturally being held at a net loss now. The recent growth in the Realized Cap of the STH whales has come as the long-term holders (LTHs), covering investors with a holding time greater than the STH upper limit of 155 days, have been participating in distribution. As the chart shared by CryptoQuant community analyst Maartunn shows, 337,300 BTC has exited the wallets of the Bitcoin LTHs over the last 30 days. So far, new capital has been coming in to absorb this selloff from the HODLers, but with the STH whales now under pressure, demand for the cryptocurrency may be starting to weaken. BTC Price At the time of writing, Bitcoin is trading around $111,000, down 1.7% over the last week.

Pressure on the British pound has grown after the Bank of England warned of parallels between the $1.7 trillion private credit boom and the subprime lending crisis, as UK officials confirmed plans to stress test the market. Bank of England Governor Andrew Bailey told a parliamentary committee on Tuesday that there are worrying signs in the sector. He referred to conversations with industry representatives who assured him that "everything's fine in our world"—except for the role of rating agencies, which, he noted, echoed the confusion over debt quality seen during the securitization of subprime mortgages. "We're not going to run that movie again, are we?" Bailey said during hearings of the House of Lords Financial Services Regulation Committee in London. The comments from the head of the UK's central bank—who also chairs the Basel-based Financial Stability Board—were the latest warning about the state of the global private credit market. Sarah Breeden, the Bank of England's Deputy Governor for Financial Stability, recently pointed to the market's opacity, leverage, and links to banks as key risks for the sector. According to policymakers, the lending sector has expanded significantly since the 2008 financial crisis. It is also flooded with capital from insurance companies, which require credit ratings for regulatory purposes. Companies are creating increasingly complex structured products, such as investment-grade rated fund-backed bonds, partly to attract insurance capital—further pumping money into the market. There are growing fears that any problems arising in this sector and the broader leveraged credit markets could quickly spread to banks and the wider economy following the recent collapses of U.S. companies First Brands and Tricolor. These cases prompted JP Morgan Chase & Co. CEO Jamie Dimon to warn: "If you see one cockroach, there are probably more." Leaders of private credit firms responded by claiming that the problem lies with loans issued by banks and should not be viewed as evidence of growing risks from new players entering the lending market. Nevertheless, Bailey noted that whether cases like First Brands are isolated incidents remains an open question. It's worth recalling that in the run-up to the 2008 financial crisis, creative loan packaging led to risky loans being rebranded as collectively safe securities. The result was hundreds of billions in losses, the collapse of Lehman Brothers and Bear Stearns, and a global financial crisis that suppressed world economic growth for more than a decade. As for the current technical outlook for EUR/USD, buyers now need to focus on breaking the 1.1630 level. Only then can they target a test of 1.1655. From there, a move to 1.1700 is possible, though achieving this without support from large players will be quite difficult. The furthest target is the 1.1725 high. In case of a decline, I expect significant buyer activity around 1.1605. If no one steps in there, it might be worth waiting for a renewal of the 1.1575 low or opening long positions from 1.1545. As for the current technical outlook for GBP/USD, pound buyers need to take out the nearest resistance at 1.3400. Only this will allow targeting 1.3440, above which a breakout will be quite challenging. The furthest target is the 1.3485 level. If the pair falls, bears will try to take control at 1.3360. Should they succeed, breaking that range would deal a serious blow to the bulls' positions and push GBP/USD down to a 1.3330 low, with potential to reach 1.3300. The material has been provided by InstaForex Company - www.instaforex.com

When everyone is selling, it creates an opportunity to buy cheaper. This is how uptrends recover. However, sometimes the rise in asset prices after widespread sell-offs is merely the result of short sellers covering their troubled positions. If that's the case, the bullish trend is not necessarily resuming. Something similar is currently happening with the S&P 500. According to research from Goldman Sachs, short sellers of U.S. equities covered their positions in October at the fastest pace on record since tracking began in 2008. It was their activity that brought the S&P 500 back to near record highs. But if this is not a case of buying the dip, there are serious doubts about the bulls' ability to reestablish a sustained trend. S&P 500 Short Seller Position Growth Dynamics For a long time, the broad stock index has ignored negative developments, while many good news events are already priced in. U.S.–China trade talks have resumed. Derivatives markets are fully pricing in a rate cut by the Federal Reserve by the end of December. The U.S. government shutdown prevents a proper assessment of the economy's strength. All that's left is the third-quarter earnings season. Thus far, things appear favorable. According to FactSet, 76% of reporting companies have exceeded profit forecasts. Notably, positive results from Coca-Cola, 3M, and General Motors helped the Dow Jones Industrial Average to reach new record highs. General Motors' Earnings and Free Cash Flow Forecasts Earnings growth significantly contributes to equity value expansion. However, when the S&P 500 rises this high, thoughts of a bubble become inevitable. What could cause it to burst? First and foremost: failure of the U.S.–China negotiations followed by a full-blown trade war. A much stronger-than-expected surge in U.S. inflation in September could undermine expectations for a Fed rate cut in October. Finally, the earnings season might start strong but end poorly. Who can guarantee that tech giants will satisfy investor expectations for Q3? Indeed, if the S&P 500 reaches new record highs, fresh buyers will join the rally. But if the broad-based index fails to break through soon, consolidation and elevated volatility can be expected. As a result, October may live up to its longstanding reputation as the most volatile month for U.S. equities. A transition of the S&P 500 into a trading range would shift attention to other markets. The carry trade has lifted Japan's Nikkei 225 and TOPIX, while the resolution of France's political turmoil has pushed the CAC 40 to a new record. From a technical perspective, a doji bar has formed on the daily chart of the S&P 500 following a wide-bodied candle. A decline below the 6,720 level could signal the start of a bearish reversal pattern. Consider short entries from this level. The material has been provided by InstaForex Company - www.instaforex.com

Gold and silver prices have experienced their steepest sell-off in the past twelve years, sparking concerns that their dramatic surge in recent weeks has made them overvalued. Spot gold is trading around $4,140 per ounce after falling 6.3% in the previous session, marking the largest intraday decline in more than twelve years. Silver registered a slight increase after an 8.7% drop on Tuesday. The sharp drop followed technical signals indicating that the rapid price rally in both metals had pushed them into strongly overbought territory. Many experts emphasize that technical selling was the primary cause. Prices have been in the overbought zone since early September, making a sell-off virtually inevitable. The pullback abruptly halted a steep rally that began in mid-August. Key drivers of the recent growth included so-called debasement trading, where investors avoid sovereign bonds and currencies to hedge against uncontrolled budget deficits, as well as bets that the Federal Reserve would implement at least one significant rate cut before the end of the year. Despite the retreat, gold remains up nearly 60% for the year. Aggressive actions by President Donald Trump in his attempts to reform global trade, along with rising geopolitical uncertainty, have also fueled the surge in precious metal prices this year. Central banks seeking to diversify and shift away from the U.S. dollar continued buying, while retail investors redirected funds into exchange-traded funds (ETFs), aiming to capitalize on the rally. Following the sharp sell-off, Citigroup Inc. downgraded its gold recommendation from "overweight," citing concerns over positioning in an overbought market. The bank expects prices to consolidate around $4,000 per ounce in the coming weeks. The sell-off also occurred as investors assessed potential progress in U.S.-China trade talks following a recent rise in tensions that had previously increased demand for safe-haven assets. On Tuesday, Trump predicted that an upcoming meeting with Chinese President Xi Jinping would result in a favorable trade deal, although he acknowledged that talks might not happen at all. The U.S. government shutdown also deprived traders of one of their most valuable tools: the weekly report from the Commodity Futures Trading Commission, which reveals how hedge funds and other asset managers are positioned in U.S. gold and silver futures markets. Without this data, speculators are more likely to form unusually large positions in either direction. Technical Picture Buyers need to reclaim the nearest resistance at $4,186 to aim for $4,249, a level above which a breakout would be difficult to sustain. The furthest target lies in the $4,304 area. Should gold decline, bears will attempt to take control at the $4,124 level. A successful breakdown below this range could deal a significant blow to bullish positions and push gold toward a low of $4,062, with potential to reach $4,008. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Tips for Trading the Japanese YenThe test of the 151.66 level occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential. For this reason, I did not sell USD/JPY. The primary pressure on the Japanese yen continues to be the new Prime Minister's willingness to return to economic stimulus and support measures—an approach that contrasts with the Bank of Japan's potential plans to raise interest rates. This dichotomy creates significant uncertainty in financial markets. On one hand, stimulus efforts aimed at reviving the economy could lead to increased inflation and a weakening of the yen. On the other hand, rate hikes intended to control inflation might slow economic growth and also pressure the yen if perceived as premature or excessive. Therefore, it is necessary to closely monitor the actions of both the government and the central bank to try to assess which course will dominate. Their decisions directly influence the supply and demand for the yen and thus impact its value. External factors such as the global economic situation and U.S. trade policy further complicate the outlook. For the intraday strategy, I will primarily focus on the execution of Scenarios #1 and #2. Buy ScenariosScenario #1: I plan to buy USD/JPY today upon reaching the entry point around 152.10 (green line on the chart), targeting a rise to the 152.75 level (thicker green line on the chart). Around 152.75, I plan to exit the long position and open a short position in the opposite direction (expecting a move of 30–35 pips in the opposite direction). It's advisable to return to buying the pair on pullbacks and deep corrections in USD/JPY. Important: Before buying, make sure the MACD indicator is above the zero line and just starting to rise from it. Scenario #2: I also plan to buy USD/JPY today if there are two consecutive tests of the 151.72 level while the MACD indicator is in the oversold zone. This will limit the pair's downside potential and trigger a reversal to the upside. Growth can then be expected toward the 152.10 and 152.75 levels. Sell ScenariosScenario #1: I plan to sell USD/JPY today only after a breakout below the 151.72 level (red line on the chart), which may lead to a swift decline in the pair. The key target for sellers will be the 151.14 level, where I plan to exit short positions and immediately open long positions in the opposite direction (expecting a reversal move of 20–25 pips). It's best to sell as high as possible. Important: Before selling, make sure the MACD indicator is below the zero line and just beginning to decline from it. Scenario #2: I also plan to sell USD/JPY today in the event of two consecutive tests of the 152.10 level while the MACD indicator is in the overbought zone. This would limit the pair's upward potential and result in a reversal to the downside. A decline can then be expected toward the 151.72 and 151.14 levels. What's on the Chart:Thin green line – entry price to buy the trading instrumentThick green line – projected price for placing Take Profit or manually exiting long positions (further growth beyond this point is unlikely)Thin red line – entry price to sell the trading instrumentThick red line – projected price for placing Take Profit or manually exiting short positions (further decline below this point is unlikely)MACD Indicator – when entering trades, it's important to follow overbought and oversold zonesImportant: Beginner traders on the Forex market must be very cautious when making entry decisions. Before the release of key fundamental reports, it is generally best to stay out of the market to avoid sudden price swings. If you choose to trade during news events, always place stop-loss orders to minimize losses. Without stop-loss protection, you could quickly lose your entire deposit—especially if you do not use money management and trade with high volumes. Remember: successful trading requires a clear trading plan, such as the one outlined above. Spontaneous decision-making based on the current market situation is an inherently losing strategy for intraday traders. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Tips for Trading the British PoundThe test of the 1.3367 level coincided with the moment when the MACD indicator had just begun moving down from the zero mark, confirming a valid entry point for selling the pound. However, the pair did not experience a significant drop. The British pound continues to decline against the US dollar—especially against the backdrop of ongoing geopolitical uncertainty and unresolved trade disputes between the United States and China. Investors are exercising caution due to the unpredictability of global trade and the potential impact on the UK economy, which is already facing political and economic challenges. Yesterday's data on the sharp increase in public sector borrowing confirms this pressure. Today, all market participants' attention is focused on the upcoming release of the Consumer Price Index (CPI), Core CPI, and Retail Price Index (RPI) in the UK for September. These reports will serve as key indicators of the current inflation landscape in the country. Analysts will carefully assess the figures to understand the extent of inflationary pressure on the British economy and to gauge the Bank of England's potential policy response. Should inflation data prove high, it may encourage the BoE to maintain a hawkish stance on interest rates. Such a move would likely support the pound sterling but could simultaneously act as a brake on economic growth, as more expensive credit would reduce business investment and consumer spending. Conversely, low inflation could prompt the BoE to consider easing monetary policy, which could weaken the pound but give a boost to the economy. Investors will weigh the potential risks and benefits to determine the most probable scenario going forward. Particular attention will be paid to the Core Consumer Price Index, which excludes energy and food prices—components known for their high volatility. It provides a clearer view of underlying inflation trends. The Retail Price Index is also important, as it is used to adjust wages, pensions, and other social payments. Regarding the intraday strategy, I will focus primarily on executing Scenarios #1 and #2. Buy ScenariosScenario #1: Today, I plan to buy the pound upon reaching the entry point around 1.3395 (green line on the chart), targeting growth toward the 1.3440 level (thicker green line on the chart). Around 1.3440, I plan to exit long positions and enter short positions (expecting a counter-move of 30–35 pips). A bullish outlook on the pound today is only justified in the case of very strong economic data.Important: Before buying, ensure that the MACD indicator is above the zero level and just beginning to rise from it.Scenario #2: I also plan to buy the pound in case of two consecutive tests of the 1.3372 level at a time when the MACD indicator is in the oversold zone. This will likely limit the pair's downside potential and initiate a reversal to the upside. Expected targets for growth include the 1.3395 and 1.3440 levels.Sell ScenariosScenario #1: I plan to sell the pound after a breakout below 1.3372 (red line on the chart), which may lead to a rapid decline of the pair. The sellers' key target will be the 1.3324 level, where I will exit short positions and immediately open long positions in the opposite direction (expecting a counter-move of 20–25 pips). Pound sellers are likely to return if inflation data shows a decline.Important: Before selling, ensure that the MACD indicator is below the zero level and just beginning to fall from it.Scenario #2: I also plan to sell the pound today in case of two consecutive tests of the 1.3395 level at a time when the MACD indicator is in the overbought zone. This will limit the pair's upward potential and may lead to a market reversal to the downside. A decrease is expected toward the 1.3372 and 1.3324 levels. What's on the Chart:Thin green line – entry price to buy the trading instrumentThick green line – projected price for placing Take Profit or manually exiting long positions (further growth beyond this point is unlikely)Thin red line – entry price to sell the trading instrumentThick red line – projected price for placing Take Profit or manually exiting short positions (further decline below this point is unlikely)MACD Indicator – when entering trades, it's important to follow overbought and oversold zonesImportant: Beginner traders on the Forex market must be very cautious when making entry decisions. Before the release of key fundamental reports, it is generally best to stay out of the market to avoid sudden price swings. If you choose to trade during news events, always place stop-loss orders to minimize losses. Without stop-loss protection, you could quickly lose your entire deposit—especially if you do not use money management and trade with high volumes. Remember: successful trading requires a clear trading plan, such as the one outlined above. Spontaneous decision-making based on the current market situation is an inherently losing strategy for intraday traders. The material has been provided by InstaForex Company - www.instaforex.com

Trade Analysis and Tips for Trading the EuroThe price test of 1.1606 occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential. For this reason, I did not sell the euro. The second test of this level occurred when the MACD indicator was in the oversold zone, triggering Scenario #2 for buying the euro, which resulted in a 20-pip rise in the euro's value. President Trump's inconsistent approach to resolving trade disputes with China continues to keep investors from active operations with the euro. Uncertainty about the possibility of reaching a full-fledged trade agreement negatively affects market sentiment, with participants preferring to observe rather than act. One moment, Trump states he's ready to meet with Xi, and then a few hours later, he says he intends to impose 155% tariffs on China starting November 1. Today, no economic data is scheduled to be published in the Eurozone during the first half of the day, which automatically shifts attention to the speech by European Central Bank President Christine Lagarde. Traders will pay close attention to her comments regarding future inflation trends, economic growth, and subsequent monetary policy actions. Market participants are looking for hints on how concerned the central bank is about pricing and its willingness to implement further monetary stimulus if needed. In addition to Lagarde's speech, investors will also be following developments from the US and China regarding the status of a trade agreement. For the intraday strategy, I will rely primarily on the execution of Scenarios #1 and #2. Buy ScenariosScenario #1: Today, I plan to buy the euro upon reaching the price of 1.1620 (green line on the chart), targeting growth toward 1.1652. At 1.1652, I plan to exit the market and sell the euro on a pullback, expecting a move of 30–35 pips from the entry level. Euro growth should only be expected following a hawkish stance from Lagarde.Important: Before buying, confirm that the MACD indicator is above the zero line and just starting to rise from it.Scenario #2: I also plan to buy the euro today if there are two consecutive tests of the 1.1603 level while the MACD indicator is in the oversold zone. This would limit downside potential and trigger a reversal to the upside. Growth can then be expected toward the 1.1620 and 1.1652 levels.Sell ScenariosScenario #1: I plan to sell the euro after it reaches the 1.1603 level (red line on the chart), targeting a move down to 1.1573. At 1.1573, I will exit short positions and buy immediately on a rebound (expecting a 20–25 pip counter-move). Pressure on the pair would return today if Lagarde delivers dovish comments.Important: Before selling, confirm that the MACD indicator is below the zero line and just starting to decline from it.Scenario #2: I also plan to sell the euro today if there are two consecutive tests of the 1.1620 level, while the MACD indicator is in the overbought zone. This would limit upside potential and result in a reversal down. A decline can be expected toward the 1.1603 and 1.1573 levels. What's on the Chart:Thin green line – entry price to buy the trading instrumentThick green line – projected price for placing Take Profit or manually exiting long positions (further growth beyond this point is unlikely)Thin red line – entry price to sell the trading instrumentThick red line – projected price for placing Take Profit or manually exiting short positions (further decline below this point is unlikely)MACD Indicator – when entering trades, it's important to follow overbought and oversold zonesImportant: Beginner traders on the Forex market must be very cautious when making entry decisions. Before the release of key fundamental reports, it is generally best to stay out of the market to avoid sudden price swings. If you choose to trade during news events, always place stop-loss orders to minimize losses. Without stop-loss protection, you could quickly lose your entire deposit—especially if you do not use money management and trade with high volumes. Remember: successful trading requires a clear trading plan, such as the one outlined above. Spontaneous decision-making based on the current market situation is an inherently losing strategy for intraday traders. The material has been provided by InstaForex Company - www.instaforex.com

Bitcoin failed to hold the $113,800 level yesterday and quickly lost ground by the end of the day, returning to the $108,000 area. Ethereum also fell below the $4,000 mark, which raises further concern about potential large-scale sell-offs. Bitcoin's growth yesterday occurred following comments in an interview by Federal Reserve member Christopher Waller, who stated that BTC could eventually become a form of electronic gold. Not many Fed officials are willing to make such statements; however, the stance of one of the Fed's key figures on cryptocurrencies is certainly a positive signal for traders and investors. Given Bitcoin's sharp drop, such a view from a high-ranking official is a breath of fresh air for the crypto community. Investors and traders, tired of constant calls for regulation, interpreted Waller's words as a signal of a possible softening in the central bank's rhetoric. It's worth noting that recognizing Bitcoin as a form of electronic gold implies its use as a safe-haven asset, an alternative to traditional gold reserves. This approach opens new opportunities for institutional investors who had previously refrained from investing in cryptocurrencies due to the lack of a clear legal framework and regulatory uncertainties. However, the significance of a single statement should not be overestimated. Fed policy is set collegially, and Waller's words do not guarantee an immediate change to the central bank's approach toward crypto. Nevertheless, this event can be seen as an important precedent, indicating the gradual acceptance of digital assets in the financial world. The impact of this statement is likely to be felt over the long term, supporting further development of the cryptocurrency industry and the establishment of a more definitive regulatory framework. Regarding the intraday cryptocurrency market strategy, I will continue to operate based on major dips in Bitcoin and Ethereum, anticipating the continuation of the medium-term bull market, which remains intact. In terms of short-term trading, the strategy and trade setups are as follows: BitcoinBuy ScenarioScenario #1: I will buy Bitcoin today upon reaching the entry point around $108,800 with an upward target at $110,300. Around the $110,300 level, I will exit long positions and sell immediately on a pullback. Before entering a breakout buy trade, ensure that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.Scenario #2: Bitcoin can also be bought from the lower boundary at $107,700 if there is no reaction to a breakout downward, targeting levels of $108,800 and $110,300.Sell ScenarioScenario #1: I will sell Bitcoin today upon reaching the entry point around $107,700, targeting a fall to $106,400. Around the $106,400 level, I will exit short positions and buy immediately on a pullback. Before entering a breakout sell trade, ensure that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.Scenario #2: Bitcoin can be sold from the upper boundary at $108,800 if there is no reaction to an upward breakout, targeting levels of $107,700 and $106,400. EthereumBuy ScenarioScenario #1: I will buy Ethereum today upon reaching the entry point around $3,883, targeting a move up to $3,971. Around the $3,971 level, I will exit long positions and sell immediately on a pullback. Before entering a breakout buy trade, ensure that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.Scenario #2: Ethereum can be bought from the lower boundary at $3,826 if there is no reaction to a breakout downward, targeting levels of $3,883 and $3,971.Sell ScenarioScenario #1: I will sell Ethereum today upon reaching the entry point around $3,826, targeting a decline to $3,742. Around the $3,742 level, I will exit short positions and buy immediately on a pullback. Before entering a breakout sell trade, ensure that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.Scenario #2: Ethereum can be sold from the upper boundary at $3,883 if there is no reaction to an upward breakout, targeting levels of $3,826 and $3,742.The material has been provided by InstaForex Company - www.instaforex.com

The American dollar continues to strengthen its position—this is especially evident in pairs with the euro and the Japanese yen. President Trump's somewhat mixed stance on resolving trade relations with China continues to push away buyers of risk assets. The uncertainty surrounding the prospects of concluding a trade agreement exerts a restraining influence on investor sentiment, leading many to adopt a wait-and-see position until the situation becomes clearer. In this context, volatility in the foreign exchange market is not as high as it was previously. Traders will continue to respond sensitively to any new information regarding U.S.-China trade negotiations. This morning, there are no reports from the Eurozone, so all attention will once again be focused on another speech by European Central Bank President Christine Lagarde. Traders will closely watch her comments on the prospects for inflation, economic growth, and future steps in monetary policy. The market expects signals indicating how concerned the central bank is with slowing inflation and whether it's prepared to ease policy further if necessary. The market's reaction to Lagarde's speech will likely depend on the tone of her statements. If she expresses concern about economic risks and suggests that the ECB is willing to take additional measures to stimulate the economy, the euro may come under pressure. As for the pound, traders' focus will shift to the UK Consumer Price Index. High inflation readings may prompt the Bank of England to maintain a hawkish stance on interest rates, which in turn may strengthen the British pound. Conversely, low inflation readings may lead the central bank to consider monetary easing, which may weaken the pound but stimulate the economy. If the data matches economists' expectations, it is best to proceed using a Mean Reversion strategy. If the data turns out to be much higher or lower than expected, the best approach is to use a Momentum strategy. Momentum Strategy (Breakout Trading):EURUSD PairLong positions on a breakout above 1.1620 may lead to the euro strengthening toward 1.1645 and 1.1675Short positions on a breakout below 1.1600 may lead to the euro weakening toward 1.1575 and 1.1545GBPUSD PairLong positions on a breakout above 1.3390 may lead to the pound strengthening toward 1.3420 and 1.3450Short positions on a breakout below 1.3360 may lead to the pound weakening toward 1.3336 and 1.3295USDJPY PairLong positions on a breakout above 152.10 may lead to dollar strengthening toward 152.42 and 152.82Short positions on a breakout below 151.73 may lead to dollar weakening toward 151.29 and 150.83Mean Reversion Strategy (Reversal Trading): EURUSD PairSelling opportunities may arise after an unsuccessful breakout above 1.1624, with a return below that levelBuying opportunities may arise after an unsuccessful breakout below 1.1600 with a return above that level GBPUSD PairSelling opportunities may arise after an unsuccessful breakout above 1.3393 with a return below that levelBuying opportunities may arise after an unsuccessful breakout below 1.3360 with a return above that level AUDUSD PairSelling opportunities may arise after an unsuccessful breakout above 0.6517 with a return below that levelBuying opportunities may arise after an unsuccessful breakout below 0.6485 with a return above that level USDCAD PairSelling opportunities may arise after an unsuccessful breakout above 1.4020 with a return below that levelBuying opportunities may arise after an unsuccessful breakout below 1.3989 with a return above that levelThe material has been provided by InstaForex Company - www.instaforex.com

The CEO of Fetch.AI (FET) has offered a reward to uncover Ocean Protocol’s move after the project was accused of liquidating millions of tokens, affecting the FET’s price and its holders. Fetch.AI Vs Ocean Protocol Feud On Tuesday, Humayun Sheikh, CEO of Fetch.AI, offered a bounty $250,000 to anyone who could “uncover the OceanDAO signatories and their connections to Ocean Foundation.” The post followed last week’s allegations that Ocean Protocol had dumped hundreds of millions of FET tokens into crypto exchanges earlier this year. For context, crypto AI projects Fetch.AI, Ocean Protocol (OCEAN), and SingularityNET (AGIX) merged into the Artificial Superintelligence (ASI) Alliance in mid-2024, combining their tokens under a shared FET framework. Over a year later, Ocean Protocol Foundation announced its departure from the alliance, sharing on October 9 that it had resigned as a member of the ASI Alliance, “effective immediately.” Last week, Fetch.AI’s CEO affirmed that the Ocean Protocol Foundation had swapped 661.2 million OCEAN tokens minted in 2023 for 286.4 million FET this July, suggesting that the protocol had been moving and liquidating them for the past three months. Sheikh noted that “Ocean as stand alone project did this it would be classed as a rug pull,” later vowing to personally fund three or more class action lawsuits in different jurisdictions. “If you are or were a holder of $fet and have lost money during this Ocean action be ready with your evidence. (…) I will be setting up a channel for all to submit your claims,” he wrote. Ocean Protocol called the accusations “unfounded claims and harmful rumors,” affirming that their team was “preparing responses to the various unfounded claims and allegations while respecting the ambits of the law.” At the time of writing, the protocol’s official X account has not published a response. Did Ocean Dump $120M Worth Of FET? Data analytics platform Bubblemaps shared a timeline of the Ocean Protocol moves, highlighting that despite the merger, the protocol kept a large amount of OCEAN tokens in its wallets for alleged “community incentives” and “data farming.” According to Bubblemaps’ analysis, Ocean Protocol’s team wallet (0x4D9B) converted 661 million OCEAN into 286 million FET, worth $191 million on July 1, and later sent 90 million FET to an OTC provider, GSR Markets. On August 31, the team wallet split the remaining 196 million FET across 30 new addresses. By October 14, most of these addresses had sent the funds to Binance or the OTC provider. Bubblemaps estimated that around 160 million tokens were sent to Binance, while 109 million FET were transferred to GSR Markets. In total, approximately 270 million tokens, valued at around $120 million, were reportedly transferred and potentially liquidated. “We can’t confirm whether the $FET tokens were sold by Ocean Protocol, although such transfers are typically associated with liquidation,” the platform noted, adding that on-chain activity only shows a multisig wallet linked to the protocol swapped millions of OCEAN tokens for FET, and sent them to Binance and GSR. FET’s Price Sees Sharp Decline Analyst Cryptor pointed out that the feud has triggered uncertainty surrounding the projects. He noted that the FET’s Top PnL Leaderboard doesn’t look good, as “almost everyone over the past 30 days has fully exited their positions.” Additionally, Smart Money Flows have been declining for nearly a year, alongside the price, which has retraced over 92.6% from its $3.45 all-time high (ATH). The analyst asserted that “you want segments like Top PnL traders, Smart Money, and funds to stay onboard because they set the tone for market behavior. (…) The data shows hesitation and capital leaving, which is to me a clear sign that confidence hasn’t returned. Price might hold temporarily, but without their participation, volatility rises quickly.” As of this writing, FET trades at $0.25, an 8.3% decline in the daily timeframe.

Following a significant rally, the valuation of gold has begun to decline. Meanwhile, Bitcoin (BTC) appears to be experiencing a slight capital rotation towards it, as evidenced by Tuesday’s price performance, which led to a recovery of the $112,000 mark. In this context, asset manager Bitwise has released a new report that outlines promising price prospects for the market’s leading cryptocurrency, despite the challenges it has faced over the past few weeks. How Gold’s Rise Fuels Bitcoin Opportunities Authored by Andre Dragosch, Max Shannon, and Aayush Tripathi from Bitwise Europe’s research and analysis department, the report highlights that crypto prices have been underperforming compared to traditional assets, largely due to a bearish market sentiment triggered by renewed weaknesses in US regional bank stocks. The report emphasizes the fluctuating relative performance of Bitcoin against gold, which tends to vary with changes in cross-asset risk appetite. A renewed risk-on environment could potentially reaffirm Bitcoin’s leadership in performance over gold. A key catalyst for Bitcoin’s recovery over the coming months could stem from this capital rotation. Gold has experienced a meteoric rise this year, driven by expectations of easier monetary policy and growing concerns regarding US fiscal debt. According to Bitwise, even a modest capital rotation of just 3% to 4% from gold to Bitcoin could significantly impact the cryptocurrency’s price, potentially doubling its value, as seen in the chart below. Interestingly, a 5% shift in investments from gold to Bitcoin could increase its price by over 126%, propelling it to $242,391. This is based on a baseline price of $107,240, which is Bitcoin’s price at the time of Bitwise’s publication. Why Is $118,000 Key For BTC’s Outlook? Historical patterns suggest that Bitcoin’s performance leadership may reassert itself during a risk-on phase. This potential shift is not merely speculative; the report points out that a similar trend occurred in 2020, when Bitcoin began its ascent to new all-time highs in October, coinciding with a stall in gold’s rally that began in July. The analysts believe this performance pattern could repeat itself, particularly if gold’s rally pauses. They highlight that sustaining gold’s rally typically requires a significantly larger capital influx compared to Bitcoin, which could create headwinds for gold’s continued performance. Lastly, on-chain analysis reveals a robust liquidity cluster between $93,000 and $118,000, forming a critical boundary between bull and bear market conditions. The report suggests that a decisive move above the upper end of this range at $118,000 could result in a new price rally. Featured image from DALL-E, chart from TradingView.com

[Silver] – [Wednesday, October 22, 2025] Although the RSI is in the Neutral-Bullish zone and a Bullish Divergence has formed, the ongoing Death Cross between the two EMAs suggests any strengthening is likely to be temporary, with Silver expected to return to its previous bearish bias. Key Levels: 1. Resistance. 2 : 54.407 2. Resistance. 1 : 51,533 3. Pivot : 49,697 4. Support. 1 : 46,823 5. Support. 2 : 44,987 Tactical Scenario: Pressure Zone: If the price breaks down and closes below 46,823, it will likely test the 44,987 level. Momentum Extension Bias: If 44.987 is breached and closes below, Silver may continue weakening toward 42,113. Invalidation Level / Bias Revision: The downside bias is invalidated if Silver strengthens and breaks out to close above 54,407. Technical Summary: EMA(50) : 49,445 EMA(200): 51,166 RSI(14) : 51.58 + Bullish Divergent Economic News Release Agenda: At 21:30 WIB, the United States will release Crude Oil Inventories data. The material has been provided by InstaForex Company - www.instaforex.com

[Platinum] – [Wednesday, October 22, 2025] With the RSI is in the Neutral-Bearish zone and the EMA(50) remains below the EMA(200), forming a Death Cross that signals strong bearish pressure, even though a Bullish Divergence has appeared. Key Levels: 1. Resistance. 2 : 1728.0 2. Resistance. 1 : 1633.0 3. Pivot : 1570.0 4. Support. 1 : 1475.0 5. Support. 2 : 1412.0 Tactical Scenario:- Pressure Zone: If the price breaks down and closes below 1475.0, it has the potential to drop to 1412.0. Momentum Extension Bias: If 1412.0 is breached, Platinum may test the next support level at 1317.0. Invalidation Level / Bias Revision: The downside bias is invalidated if #PLF strengthens and breaks out to close above 1728.0. Technical Summary: EMA(50) : 1558.7 EMA(200): 1624.1 RSI(14) : 46.94. Economic News Release Agenda: At 21:30 WIB, the United States will release Crude Oil Inventories data. The material has been provided by InstaForex Company - www.instaforex.com

Macroeconomic Report Analysis: There are very few macroeconomic reports scheduled for Wednesday. Only in the United Kingdom will an inflation report for September be published in about an hour. Expert forecasts suggest that the Consumer Price Index will rise to 4.0%, which is double the Bank of England's target level. We believe that with such a level of inflation (or higher), which has also been rising for a whole year, there can be no talk of a new key rate cut. Thus, rising inflation may support the British currency. In Germany, the European Union, and the United States, no important reports are scheduled for today. Fundamental Event Analysis: Few fundamental events are scheduled for Wednesday, and virtually none of them are of interest. Over the past few weeks, we have witnessed numerous speeches from representatives of the European Central Bank, BOE, and the Federal Reserve, so the positions of all three central banks are thoroughly understood. A new speech by Christine Lagarde today is unlikely to provide the market with food for thought. Let us recall that inflation in the Eurozone rose more than expected in September, which does not imply a new easing of monetary policy. However, even without the latest inflation report, the ECB was not inclined to lower the key interest rate. Thus, with the release of the new inflation report, nothing has changed. General Conclusions: During the third trading day of the week, both currency pairs may once again remain in a low-volatility flat. The European currency has a good trading zone at 1.1571–1.1584, from which both long and short positions can be considered. The British pound is located precisely between the areas of 1.3329–1.3331 and 1.3413–1.3421. However, let us remind that market volatility is currently low, and the macroeconomic background is practically absent. Only the pound has a chance to show significant movement today due to the inflation report. Core Trading System RulesThe strength of any signal is determined by how quickly it forms (breakout or rebound). The faster it forms, the stronger the signal.If two or more false trades have occurred near a level, all subsequent signals from that level should be ignored.During flat markets, any pair may generate many false signals—or fail to generate any at all. In these scenarios, it's better to suspend trading when the flat is confirmed.Trades should be executed between the beginning of the European session and the midpoint of the U.S. session. All open positions should be manually closed afterward.On the 1-hour chart, MACD-based trades should only be executed when good volatility and a clear trend are present, preferably confirmed by a visible trendline or channel.If two levels are located too close together (5–20 pips), treat them as a support/resistance area rather than individual levels.Once a trade moves 15-20 pips in your favor, the Stop Loss should be moved to breakeven to protect capital.What's on the Chart?Support and resistance levels represent key price zones, often suitable for placing Take Profit orders.Red lines indicate trendlines or trend channels and denote the current market direction.The MACD (14,22,3) indicator and its histogram/signal line serve as a useful tool for confirming entries.Murray levels can help estimate the range or limits of trend and correction phases.Volatility levels (red horizontal lines) define the probable price range based on recent price action.The CCI indicator provides reversal signals when entering overbought (above +250) or oversold (below -250) zones.Important Note for Beginners Trading during major news events (as listed on the calendar) can significantly impact price movement. During such times, trade cautiously or step out of the market entirely to avoid a sharp reversal against your position. Beginners must remember that not every trade can be profitable. The key to long-term success in forex is maintaining a consistent strategy, reinforcing discipline, controlling risk, and following sound money management principles. The material has been provided by InstaForex Company - www.instaforex.com

Trade Review for Tuesday: 1-Hour Chart of GBP/USD On Tuesday, the GBP/USD pair continued its slow, downward drift for most of the day. While the British pound has been falling more moderately compared to the euro in recent sessions, both moves appear illogical and lack clear fundamental backing. The recent mild strengthening of the U.S. dollar can be explained only by technical factors. It's important to recall that both the euro and the pound are trading within well-defined sideways ranges on the daily timeframe, which allows for arbitrary, random price moves within those bounds. On the hourly chart, the pair appeared to initiate a new upward trend, which may now be undergoing a technical pullback. Starting today, traders will begin to receive impactful macroeconomic updates, which may affect market sentiment, although it remains difficult to predict how traders will respond in advance. Our view remains that global macro fundamentals continue to support the euro and the pound over the dollar. 5-Minute Chart of GBP/USD On the 5-minute chart, a single sell signal was generated on Tuesday, just like in EUR/USD—during the overnight session. Traders who acted on the signal had the opportunity to gain around 35 pips. However, movements in GBP/USD remain erratic and low in volatility, something that all traders should keep in mind. How to Trade on Wednesday: On the hourly chart, GBP/USD appears to be forming a new bullish trend, which may become the next upward leg in the broader 2025 rally. As noted before, there are currently no sustainable macroeconomic reasons supporting long-term strength in the U.S. dollar. Therefore, over the mid-term horizon, we expect continued gains toward the upside. Still, market volatility remains extremely low, and the pair has yet to show any momentum to the upside. On Wednesday, the pair may attempt to resume its upward movement, as the trend structure has shifted to bullish. However, to initiate long positions, the price must first consolidate above the 1.3413–1.3421 zone. Alternatively, bullish entries may follow a rebound from the 1.3329–1.3331 area, though this setup implies a continuation of current bearish pressure before potential reversal. On the 5-minute chart, you can now trade at levels 1.3102-1.3107, 1.3203-1.3211, 1.3259, 1.3329-1.3331, 1.3413-1.3421, 1.3466-1.3475, 1.3529-1.3543, 1.3574-1.3590, 1.3643-1.3652, 1.3682, and 1.3763. On Wednesday, the UK will release its September consumer inflation report—one of the first meaningful economic releases of the week. This report could trigger sharp market reactions. Inflation in the United Kingdom has been rising steadily for a year now, and the Bank of England is unlikely to lower interest rates in the near term. This remains a fundamentally positive factor for the pound. Core Trading System RulesThe strength of any signal is determined by how quickly it forms (breakout or rebound). The faster it forms, the stronger the signal.If two or more false trades have occurred near a level, all subsequent signals from that level should be ignored.During flat markets, any pair may generate many false signals—or fail to generate any at all. In these scenarios, it's better to suspend trading when the flat is confirmed.Trades should be executed between the beginning of the European session and the midpoint of the U.S. session. All open positions should be manually closed afterward.On the 1-hour chart, MACD-based trades should only be executed when good volatility and a clear trend are present, preferably confirmed by a visible trendline or channel.If two levels are located too close together (5–20 pips), treat them as a support/resistance area rather than individual levels.Once a trade moves 20 pips in your favor, the Stop Loss should be moved to breakeven to protect capital.What's on the Chart?Support and resistance levels represent key price zones, often suitable for placing Take Profit orders.Red lines indicate trendlines or trend channels and denote the current market direction.The MACD (14,22,3) indicator and its histogram/signal line serve as a useful tool for confirming entries.Murray levels can help estimate the range or limits of trend and correction phases.Volatility levels (red horizontal lines) define the probable price range based on recent price action.The CCI indicator provides reversal signals when entering overbought (above +250) or oversold (below -250) zones.Important Note for Beginners Trading during major news events (as listed on the calendar) can significantly impact price movement. During such times, trade cautiously or step out of the market entirely to avoid a sharp reversal against your position. Beginners must remember that not every trade can be profitable. The key to long-term success in forex is maintaining a consistent strategy, reinforcing discipline, controlling risk, and following sound money management principles. The material has been provided by InstaForex Company - www.instaforex.com

Trade Review for Tuesday: 1-Hour Chart of EUR/USD On Tuesday, the EUR/USD pair continued drifting lower slowly and with low volatility. The euro has now declined for three straight days, despite having no fundamental or technical justification. We continue to view nearly any current growth in the U.S. dollar as illogical. Traders should keep in mind the clearly visible range-bound structure on the daily timeframe, which may be the main reason behind the unusual and erratic price movements. On both Monday and Tuesday, there were no noteworthy economic reports or events in either the Eurozone or the United States. As a result, traders had little to react to. The upward trend on the hourly chart remains in force after the recent breakout above another descending trendline. However, the pair continues falling despite the absence of a clear reason. 5-Minute Chart of EUR/USD On the 5-minute timeframe, only one valid trading signal was generated throughout Tuesday, and it formed during the Asian session. The price perfectly bounced off the 1.1655 level, then proceeded to decline by 40 pips. Those traders who managed to act on this signal may have booked solid short-term gains, especially considering the limited daily volatility. How to Trade on Wednesday: On the hourly chart, EUR/USD is starting to exhibit signs of a resumed upward trend. The descending trendline has once again been broken, and the overall fundamental and macroeconomic backdrop remains unfavorable for the U.S. dollar. Therefore, we continue to anticipate further development of the 2025 bullish trend. However, traders should keep in mind that the broad sideways range on the daily timeframe continues to dictate price behavior. It is this very flat structure that leads to low volatility and irrational movements on lower timeframes. On Wednesday, EUR/USD may move in any direction, once again due to the absence of fundamentals. The next trading signals are likely to emerge near the 1.1571–1.1584 area, where the price was located at the time of writing. For intraday trading on the 5-minute chart, the following levels should be monitored: 1.1354–1.1363, 1.1413, 1.1455–1.1474, 1.1527, 1.1571–1.1584, 1.1655–1.1666, 1.1745–1.1754, 1.1808, 1.1851, 1.1908, 1.1970–1.1988. On Wednesday, European Central Bank President Christine Lagarde is scheduled to give another public speech, but market interest remains very low. Meanwhile, the U.S. economic calendar is empty. Core Trading System RulesThe strength of any signal is determined by how quickly it forms (breakout or rebound). The faster it forms, the stronger the signal.If two or more false trades have occurred near a level, all subsequent signals from that level should be ignored.During flat markets, any pair may generate many false signals—or fail to generate any at all. In these scenarios, it's better to suspend trading when the flat is confirmed.Trades should be executed between the beginning of the European session and the midpoint of the U.S. session. All open positions should be manually closed afterward.On the 1-hour chart, MACD-based trades should only be executed when good volatility and a clear trend are present, preferably confirmed by a visible trendline or channel.If two levels are located too close together (5–20 pips), treat them as a support/resistance area rather than individual levels.Once a trade moves 15 pips in your favor, the Stop Loss should be moved to breakeven to protect capital.What's on the Chart?Support and resistance levels represent key price zones, often suitable for placing Take Profit orders.Red lines indicate trendlines or trend channels and denote the current market direction.The MACD (14,22,3) indicator and its histogram/signal line serve as a useful tool for confirming entries.Murray levels can help estimate the range or limits of trend and correction phases.Volatility levels (red horizontal lines) define the probable price range based on recent price action.The CCI indicator provides reversal signals when entering overbought (above +250) or oversold (below -250) zones.Important Note for Beginners Trading during major news events (as listed on the calendar) can significantly impact price movement. During such times, trade cautiously or step out of the market entirely to avoid a sharp reversal against your position. Beginners must remember that not every trade can be profitable. The key to long-term success in forex is maintaining a consistent strategy, reinforcing discipline, controlling risk, and following sound money management principles. The material has been provided by InstaForex Company - www.instaforex.com

Key takeaways Gold’s sharp correction: XAU/USD plunged over 8% from its all-time high of US$4,381, marking its steepest drop since August 2020.Short-term bullish reversal signs: Technical indicators, including bullish “Hammer” candlestick formations and RSI divergence, signal potential rebound momentum.Medium-term uptrend intact: Gold remains supported by a sustained downtrend in the 10-year US Treasury real yield below 1.87%.Key levels to watch: Support sits at US$4,056/4,000; resistance zones at US$4,267, US$4,380, and US$4,424/4,455. Gold (XAU/USD) has experienced a volatile movement in the past three sessions. The precious yellow metal has managed to reverse the 1.7% loss it incurred last Friday, 17 October 2025, and rallied by 2.4% on Monday, 22 October 2025, to print a fresh record high of US$4,381. Thereafter, gold (XAU/USD) recorded a swift decline on Tuesday, 21 October 2025, where it tumbled by 6.3% on an intraday basis, but it pared back some losses to close at US$4,125 with a daily loss of -5.3%, still a significant occurrence as yesterday’s loss was the worst since August 2020. Yesterday’s swift decline is likely due to stop-losses triggered on short-term leveraged long positions on gold (XAU/USD), where it has gained “attraction” after the bullish breakout triggered on 29 August 2025 from the prior 4-month of “Ascending Triangle” range configuration that led to a steep bullish impulsive up move sequences in the recent two months. Interestingly, longer-term technical elements and one key macro factor are still suggesting that the medium-term and major uptrend phases of gold (XAU/USD) remain intact. A lower long-term US real interest rate acts as a tailwind for gold zoom_out_map Fig. 1: 10-year US Treasury real yield with Gold (XAU/USD) medium-term & major trends as of 22 Oct 2025 (Source: TradingView) The 10-year US Treasury real yield (excluding 10-year breakeven inflation rate) medium-term downtrend remains intact as it remained below its 50-day moving average and 1.87% key medium-term resistance (see Fig. 1). Based on intermarket analysis, a cap on any further rebound in the 10-year US Treasury real yield below 1.87% and a break below 1.66% key intermediate support reduces the opportunity costs of holding gold (XAU/USD) as it is a non-income-bearing asset, in turn, creating a further positive feedback loop back into the price actions of gold (XAU/USD). Interestingly, the prior decline in the 10-year US Treasury real yield from 2.05% on 1 August 2025 to 1.79% on 28 August 2025 coincided with gold (XAU/USD)’s bullish breakout from its former 4-month “Ascending Triangle” range configuration in place since April 2025. Let’s now examine the latest short-term trajectory (1 to 3 days), relevant key elements, and key levels to watch for Gold (XAU/USD) from a technical analysis perspective Preferred trend bias (1-3 days) – Bullish reversal at US$4,056/4,000 key support zoom_out_map Fig. 2: Gold (XAU/USD) minor trend as of 22 Oct 2025 (Source: TradingView) Watch the US$4,056/4,000 key medium-term pivotal support, and a clearance above US$4,203 is likely for the bullish reversal scenario to gain traction for the next intermediate resistances to come in at US$4,267, US$4,380 (current all-time high area), and US$4,424/4,455 (see Fig. 2). Key elements Gold (XAU/USD) has staged a swift decline of 8.6% from its current all-time high of US$4,381 printed on Monday, 20 October 2025, to a current intraday low of US$4,004 on Wednesday, 22 October 2025, at the time of writing.The 8% plus rapid decline in the price actions of gold (XAU/USD) has led the hourly RSI momentum indicator of gold to hit an extreme oversold level of 19.61on Wednesday, 22 October 2025, and subsequently, flashed out a bullish divergence condition.The price action of Gold (XAU/USD) has formed an hourly bullish “Hammer” candlestick in today’s Asia session, right after a retest of its rising 20-day moving average. Also, it has formed an impending daily “Hammer” candlestick. These observations suggest a potential capitulation of bearish momentum.Alternative trend bias (1 to 3 days) Failure to hold at the US$4,056/4,000 key medium-term support invalidates the bullish reversal scenario for gold (XAU/USD), where a medium-term (multi-week) corrective decline may unfold to expose the next intermediate supports at US$3,943 and US$3,895/3,864 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

An analyst has pointed out how Chainlink could see a major bullish breakout if its price can break past the resistance barrier of this technical analysis (TA) channel. Chainlink Is Currently Trading Inside A Triangle In a new post on X, analyst Ali Martinez has talked about a level that could trigger a major bull rally for Chainlink. The level in question is the upper line of a Triangle from TA. This pattern appears whenever an asset’s price trades between two converging trendlines. Like any other consolidation channel in TA, the upper line of a Triangle is a source of resistance and lower one that of support. Triangles can be classified into different types depending on how the trendlines are oriented. The upper line being parallel to the time-axis results in what’s known as an “Ascending Triangle.” Similarly, the lower level being parallel forms a “Descending Triangle.” These two types correspond to consolidation periods in the asset where its range narrows to an upside and downside, respectively. When the range shrinks down with no bias, the resulting channel is called a “Symmetrical Triangle.” In this Triangle, the trendlines approach each other at a roughly equal and opposite slope. The Triangle that Chainlink has been following for the last few years doesn’t cleanly fit into any of these classes. Instead, its channel lies somewhere between an Ascending Triangle and a Symmetrical Triangle, as the chart shared by Martinez shows. As is visible in the above graph, the 1-day price of Chainlink retested the upper level of the Triangle earlier in the year and found rejection. The coin has since been on the way down. The chart also shows that LINK is slowly approaching the end of this multi-year channel. Generally, breakouts become more likely the smaller an asset’s range gets. As the coin is clearly trading inside a narrow region now, a breakout could be coming closer. A surge above a Triangle is usually a bullish sign, while a decline under the channel can lead to bearish action. As such, the next retest from Chainlink could be worth keeping an eye on, as a breakout could set the tone for the coin’s upcoming price action. It only remains to be seen, however, whether LINK would next retest the upper level or the lower one. In the scenario that the coin can break past the resistance line situated around $25, the analyst thinks its price could see a bull rally. For the target, Martinez has referred to the 1.272 Fibonacci Extension level. Fibonacci Extension levels drawn up from the top (considered as the 1 level), based on ratios from the famous Fibonacci series. The 1.272 level indicated by the analyst lies around $100. LINK Price At the time of writing, Chainlink is floating around $18, down over 2% in the last seven days.

Bitcoin’s weekly chart shows promising signs of strength as the RSI continues to climb, hinting at the potential for further upside. However, the battle isn’t over yet. With price hovering near the critical $107,000 support, bulls must defend this level to prevent deeper downside pressure. RSI And Price Alignment: A Textbook Case Of Momentum Confirmation In a recent market update, EGRAG CRYPTO questioned whether the bulls and bears are even analyzing the same chart, as the current macro weekly structure of Bitcoin shows no signs of bearishness. The broader setup remains firmly bullish, suggesting that the ongoing price movements are part of a healthy uptrend. The analyst emphasized that when Bitcoin’s price and the Relative Strength Index (RSI) rise simultaneously on the weekly timeframe, it serves as a confirmation of momentum rather than a warning sign. This alignment often signals strong buying interest and market conviction, supporting the argument for continued bullish pressure in the near to mid-term. EGRAG CRYPTO further highlighted that the Exponential Moving Average (EMA) ribbon remains supportive, reinforcing the trend’s strength. In the expert’s view, the current setup is a clear indication of macro confirmation, not mere market noise. Such alignment between indicators typically precedes significant continuation phases, showing that the trend remains well-structured and sustainable. However, the expert added a note of caution, stating that traders should only be wary if the RSI climbs into overbought territory above 70, which could suggest a temporary cooldown. For now, with RSI hovering around 50, Bitcoin still has plenty of room to run. This leaves the market with a strong technical foundation and considerable potential for further upside momentum. Bitcoin Faces Rejection At $111,000: Bulls Lose Grip On Momentum According to Crypto VIP Signal’s latest analysis, Bitcoin is currently facing challenges after failing to sustain its upward momentum above $111,000. The rejection from this point suggests that selling pressure remains strong, keeping bullish momentum temporarily in check. Crypto VIP explained that Bitcoin is now retesting the $107,000 support zone, a critical area that could determine the next possible move. Holding this level is essential to prevent a deeper pullback, as it has served as a key foundation during previous consolidation phases. However, a decisive break below the $107,000 support would likely trigger additional selling pressure, potentially extending the ongoing correction. Monitoring this level closely now appears important, since a bounce from here could reignite bullish sentiment, while a breakdown might expose Bitcoin to further downside risks in the short term.

While Bitcoin (BTC) has declined more than 13% from its fresh all-time high (ATH) of $126,199 recorded earlier this month on October 6, CryptoQuant contributor PelinayPA is confident that there is a 55% chance that the BTC top for this market cycle is not in yet. Bitcoin Top Not In Yet – More Upside Ahead? According to a CryptoQuant Quicktake post by contributor PelinayPA, there is a 55% probability that the Bitcoin top for the ongoing market cycle is not in yet. The analyst highlighted BTC’s recent on-chain flows to support their claim. In their analysis, PelinayPA noted that although BTC’s price has tumbled from more than $126,000 to around $109,000 in the second half of 2025, there has been a noticeable increase in 0-1 day BTC inflows to exchanges. A rise in 0-1 days BTC inflows to exchange typically has two implications – short-term traders are taking profits, and there is a temporary phase of repositioning of liquidity as traders transfer their holdings to exchanges, anticipating price volatility. The analyst added that BTC held for more than six months is largely inactive, indicating that long-term holders are likely not selling despite the recent market crash. This signals market confidence among long-term holders, minimizing the possibility of another major sell-off in the near term. PelinayPA remarked that such behavior typically occurs in the mid or maturing stages of a bull cycle, where any dip in price is seen as an opportunity to accumulate instead of a trend reversal. Currently, the Bitcoin market is in a natural consolidation phase within an ongoing uptrend. The analyst added: In the short term, Bitcoin could revisit the $102K region as short term traders continue to take profits. However, since this selling pressure originates mainly from newer holders, it is unlikely to disrupt the broader bullish structure. These dips may offer attractive entry opportunities. Concluding, Pelinay commented that the lack of selling activity among BTC holders in the 6-months to 10-year time-band range shows that there is a 55% probability that the bull market top has not yet formed. BTC Could Dip To $102,000 The CryptoQuant contributor noted that, although it is likely that the BTC bull market top is not in yet, it does not mean that the top cryptocurrency would not see further temporary decline. If selling persists, BTC could once again test the $102,000 support level. Similarly, crypto analyst Elliot Waves Academy remarked that BTC has likely finished the bullish leg of the ongoing market cycle. The analyst added that BTC is likely to consolidate around its current levels. That said, a fellow CryptoQuant contributor noted that BTC has entered the ‘disbelief phase,’ and may take the bears by surprise with a sharp surge in price. At press time, BTC trades at $108,472, down 2% in the past 24 hours.

Dogecoin is confronting a dense supply overhang at the $0.21 neighborhood, where on-chain data show a striking concentration of realized cost. Market analyst Ali Martinez (@ali_charts) highlighted a Glassnode cost-basis distribution heatmap showing a heavy band at that level Dogecoin Bulls Face $2.2 Billion Wall “10.50 billion $DOGE were accumulated at $0.21. That’s a big resistance zone forming. Keep this level on your radar!” he wrote. The underlying tooltip on Ali’s chart (timestamped Oct. 19, 2025, UTC) pinpoints a Cost Basis Range: $0.21062334–$0.21144839 with Supply: 10,575,420,761.332544 DOGE clustered there. At $0.21, that cohort represents roughly $2.22 billion in supply. The technical context around that same band adds weight to the on-chain reading. In a separate TradingView chart shared Oct. 20, Ali noted that Dogecoin “just bounced off the channel support and looks set to climb. Eyes on $0.29 first, then $0.45 and $0.86.” Related Reading: Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021 His channel overlay tracks price respecting an ascending structure across multiple tests since 2023, with intermediate waypoints aligning closely to classical retracement and extension levels. Notably, the $0.21 area intersects the 0.618 retracement at ~$0.21205 on his plot—an overlap of technical and realized-price resistance that helps explain the current stall and the importance of clearing this shelf with convincing volume. DOGE Whales Continue To Accumulate A separate on-chain lens from Cryptollica (@Cryptollica) focuses on holder concentration dynamics. Sharing a long-horizon chart titled “Percent of Supply Held by Top 1% Addresses,” the analyst observed, “The supply held %1 data downward trend has not yet been seen as the price moves toward a new all-time high. To the moon > Target: $1.30.” The graphic shows the top-1% cohort maintaining an elevated—and recently rising—share of supply as price has recovered from the cycle lows. While such concentration is often interpreted as a proxy for large-holder conviction or tighter float, it can simultaneously amplify directional moves when those balances rotate; for now, the absence of a downtrend in the metric suggests no broad distribution from the largest addresses has materialized. Read together, the three signals sketch a coherent near-term battleground. First, the cost-basis heatmap identifies a thick realized-supply node precisely where spot is grappling—$0.21—implying latent sell pressure from holders looking to exit at break-even and equally strong validation if price can flip the level into support. Second, Ali’s price structure marks that same zone as Fibonacci resistance within an established rising channel, sharpening the inflection. Third, top-holder concentration has not rolled over, reducing evidence (so far) of heavy distribution into strength. If bulls absorb the ~$2.2 billion equivalent sitting at $0.21 and reclaim the 0.618 band, Ali’s stepped upside $0.29 (0.786 Fib), $0.46 (1.0 Fib) and $0.86 (1.272 Fib extension) path provides a clear roadmap of overhead targets; if they fail, the confluence argues for a renewed retest of channel support before any larger move. At press time, DOGE traded at $0.195.

On Tuesday, the GBP/USD currency pair once again traded with low volatility and continued to drift lower. This isn't surprising, as the week has not yet delivered a single significant event or report that could motivate traders to become more active. There's little for the market to respond to. Many factors continue to be overlooked, U.S. economic data has been halved due to the government shutdown, and the daily chart clearly shows a flat market. In such an environment, expecting strong moves, meaningful signals, and profits becomes difficult. In yesterday's EUR/USD analysis, we discussed the flat formation. GBP/USD shows the same structure on the daily chart: since July 1, the pair has been trading between 1.3140 and 1.3780. That gives us a sideways range over 600 pips wide—but this is a daily timeframe, and the scale is appropriate. At the moment, the British pound has all the advantages on its side. If we were observing a continuation of the uptrend instead of the current flat, that scenario would seem entirely logical. Therefore, we believe that the market is simply preparing for the next trend—more specifically, a new leg of the 2025 bullish trend. However, it's worth emphasizing that flat markets rarely end quietly or easily. While the forex market is less prone to manipulation than cryptocurrencies, such activity still occurs here. In the ICT (Inner Circle Trader) trading theory, there's a concept known as "deviation." This refers to a false breakout—when the price appears to break a range boundary, triggering orders and pulling liquidity before sharply reversing. Retail traders believe the range has broken, only to be caught on the wrong side by market makers who intentionally move prices in the opposite direction to harvest liquidity. We consider it entirely possible that the current flat on the daily GBP/USD chart could conclude similarly. There are two clearly defined lows—August 1 and October 14. One of these may be falsely breached for liquidity purposes, after which the pound could begin its new ascent. Such liquidity grabs are not guaranteed, but they are common enough to plan for. At this time, however, there is no clear motivation in the market to push the pair higher. By all indications, the sideways movement continues. There will be a few key events this week for both the dollar and the pound, but these are unlikely to be strong enough to break the flat structure. Historically, flat markets tend to end suddenly. The market may ignore important headlines for days or weeks, only to start a major move seemingly "out of nowhere." Therefore, readiness is critical. As of October 22, average volatility for GBP/USD over the past five trading days stands at 67 pips, classified as "average." For Wednesday, expected price action is likely to remain within the 1.3314 to 1.3448 range. The upper linear regression channel remains pointed upward, signaling a clear long-term uptrend. The CCI indicator has entered oversold territory three times recently, increasing the likelihood of trend resumption. Nearest Support Levels:S1 – 1.3367 S2 – 1.3306 S3 – 1.3245 Nearest Resistance Levels:R1 – 1.3428 R2 – 1.3489 R3 – 1.3550 Trading Recommendations:GBP/USD continues to attempt a resumption of the 2025 uptrend, and its long-term outlook remains intact. Donald Trump's policy agenda continues to pressure the dollar, so we do not expect sustained strength from the U.S. currency. Long positions targeting 1.3672 and 1.3733 remain preferable if the price is above the moving average. If the price falls below the MA line, short positions may be considered based on technical conditions, targeting 1.3314 and 1.3306. The U.S. dollar does occasionally show technical rebounds, but another leg higher is unlikely without a resolution to ongoing trade tensions or other strong, market-friendly developments. Explanation of Chart Components:Linear regression channels help identify the current trend. If both channels are aligned in the same direction, the trend is considered strong.The smoothed moving average (settings: 20,0) indicates the short-term trend and the direction in which trading should currently be conducted.Murray levels act as targets for trending and corrective moves.Volatility levels (red lines) define the probable trading range for the day based on current volatility readings.The CCI indicator signals impending trend reversals when it enters oversold (below -250) or overbought (above +250) zones.The material has been provided by InstaForex Company - www.instaforex.com

On Tuesday, the EUR/USD currency pair continued to trade with low volatility in the complete absence of fundamental or macroeconomic events. The U.S. dollar managed to gain several dozen pips throughout the session, but one can hardly call this move justified. The dollar is once again strengthening for unclear reasons, even after a shift toward an upward trend. That said, the answers to all the questions can be found easily by simply switching to the daily timeframe. On the daily chart, it's clearly visible that since around July 1, EUR/USD has been trading in a flat. The sideways range is limited by the 1.1400 and 1.1825 levels. This gives the range a breadth of 425 pips, which may seem wide for a flat market. However, given that this is the daily timeframe, the width is proportionate. Yes, flat markets can indeed occur on higher timeframes, and in such cases, questions about the apparent randomness in price behavior become irrelevant. Another critical point to highlight is that this flat is unfolding at the top of the chart. The euro had rallied for about six months without a significant correction and then entered a sideways phase. In the medium term, the dollar has demonstrated no growth at all. It has merely posted a minor pullback and has now been waiting for several months for the market to begin the next wave of dollar selling. Meanwhile, on the 4-hour and lower timeframes, we observe alternating trends or directional movements. Since most traders are used to explaining every market move, many are now resorting to creative rationalizations for the dollar's growth. Among the reasons cited are the political crisis in France (which occurs every few months), the supposedly insufficiently dovish stance of the Federal Reserve and Jerome Powell (even though they are now far more dovish than they were earlier this year), and the classic narrative of growing risk-off sentiment. In short, many in the market are doing their best to retroactively justify the dollar's strength. However, few are actually forecasting a rally in the dollar beforehand. From our perspective, the recent movements are entirely explained by the flat on the daily timeframe. Price action within a flat structure has always been highly random, and that's why much of the recent dollar-negative narrative has been overlooked. We believe that market makers are still forming positions for the next trend. In our view, it is obvious that this next trend will be another bullish wave driven by Donald Trump's second term as U.S. president. As of October 22, the average volatility of the EUR/USD pair over the past five trading days stands at 55 pips, which is considered "average." We expect Wednesday's trading range to fall between 1.1561 and 1.1671. The upper linear regression channel is still pointing upward, indicating that the longer-term uptrend is intact. The CCI indicator has once again dipped into oversold territory, which could provoke a new wave of upward movement. Nearest Support Levels:S1 – 1.1597 S2 – 1.1536 S3 – 1.1475 Nearest Resistance Levels:R1 – 1.1658 R2 – 1.1719 R3 – 1.1780 Trading Recommendations:The EUR/USD pair is attempting to resume an upward trend on the 4-hour timeframe, and on all higher timeframes, the bullish trend remains intact. The U.S. dollar continues to be heavily influenced by Donald Trump's policies, which show no sign of slowing. While the dollar has recently strengthened, the local reasons behind it remain, at best, ambiguous. The flat on the daily chart explains this indecision. When the price is below the moving average, minor short positions can be considered with targets at 1.1561 and 1.1536 on purely technical grounds. When the price is above the moving average, long positions remain relevant, with targets at 1.1841 and 1.1902, continuing the trend. Explanation of Chart Components:Linear regression channels help identify the current trend. If both channels are aligned in the same direction, the trend is considered strong.The smoothed moving average (settings: 20,0) indicates the short-term trend and the direction in which trading should currently be conducted.Murray levels act as targets for trending and corrective moves.Volatility levels (red lines) define the probable trading range for the day based on current volatility readings.The CCI indicator signals impending trend reversals when it enters oversold (below -250) or overbought (above +250) zones.The material has been provided by InstaForex Company - www.instaforex.com

GBP/USD 5M Analysis On Tuesday, GBP/USD spent the entire day in a clear flat, which was visible on any timeframe. Unlike EUR/USD, which has been falling for two consecutive days, this behavior seemed logical, considering that there were no significant events or macroeconomic reports out of the UK or the U.S. on that day. From a technical standpoint, everything remains consistent as well. The pair initiated a new bullish trend structure, followed by a modest correction. At the time of writing, the price remains above the Senkou Span B line, which supports a continuation of the bullish sentiment. In our view, the rise of the British pound should resume regardless, as the global fundamental backdrop does not suggest a reversal. Today, the UK is set to release one of the most important reports of the week—consumer inflation data. It's difficult to predict how the market will react, given that inflation in the UK is already well above the target level. A further rise in inflation would likely eliminate any possibility of the Bank of England easing monetary policy through the end of the year, which could support the pound. On the 5-minute chart, trading signals were irrelevant on Tuesday. The pair moved in a narrow sideways channel between the Senkou Span B and Kijun-sen lines, with the levels 1.3369 and 1.3377 squeezed in between. As soon as the price moved away from one level, it immediately collided with another, leaving no room for clean entries. COT Report COT data for the British pound shows that the sentiment among commercial traders has been constantly changing in recent years. The red and blue lines, which display the net positions of commercial and non-commercial traders, frequently intersect and mostly hover near the zero line. Currently, they are close to equal, reflecting a balanced number of long and short positions. The U.S. dollar continues to weaken due to Donald Trump's policies, so demand for the British pound among market makers is not currently a major factor driving the market. The trade war is expected to continue in one form or another for an extended period. Meanwhile, the Federal Reserve is expected to cut rates further in the coming year. Dollar demand is likely to keep decreasing as a result. According to the latest report on the pound, the "Non-commercial" group opened 3,700 long contracts and closed 900 short ones, increasing their net long position by 4,600 contracts for the week. In 2025, the pound has posted significant gains—entirely due to Trump's economic and trade policies. Once that influence fades, a dollar rebound may begin, but no one knows precisely when that might happen. It no longer matters how quickly net positions for the pound are rising or falling—what matters is that net dollar positioning continues to decline, often at a faster rate. GBP/USD 1H Analysis On the hourly chart, GBP/USD has finally ended its downtrend and started a new upward cycle. The U.S. dollar still lacks any meaningful global support for strengthening, so we expect the pair to continue growing toward its 2025 highs under most scenarios. The only issue remains the long-running flat trend still visible on the daily chart. However, it's already clear that Trump's trade war is escalating again, market tensions are rising, and the Fed remains firmly in easing mode—a toxic combination for the USD. For October 22, the following key levels are noted for trading: 1.3125, 1.3212, 1.3307, 1.3369–1.3377, 1.3420, 1.3533–1.3548, 1.3584, 1.3681, 1.3763, 1.3833, 1.3886. The Senkou Span B line (1.3368) and the Kijun-sen line (1.3404) can also generate signals during the day. It is recommended to move the Stop Loss to breakeven once the price moves 20 pips in the correct direction. Ichimoku lines may shift throughout the day, so they should be monitored in real time for accurate signal confirmation. On Wednesday, the UK will publish one of this week's few key macroeconomic reports—inflation data—which could stir a significant market reaction. The U.S. calendar again remains empty. Trading Recommendations: Today, traders may initiate trades from the 1.3369–1.3377 area or from the Senkou Span B line. The British pound has started an upward trend, so we expect that momentum to continue in the near term with targets at 1.3533–1.3548. A consolidation below the Senkou Span B line could open the way for small, short-term short positions.Explanation of Chart Elements:Support and resistance levels – thick red lines where price movement may pause or reverse; not direct trade signalsKijun-sen and Senkou Span B – Ichimoku indicator lines transferred from the 4H to the 1H timeframe; they are considered strong levelsExtremes – thin red lines where price has previously reversed; they may act as trade triggersYellow lines – trendlines, channels, or other technical formationsCOT Indicator 1 – net position size of each trader categoryThe material has been provided by InstaForex Company - www.instaforex.com

EUR/USD 5M Analysis On Tuesday, EUR/USD once again traded with low volatility, though the movement was clearly downward—continuing the pattern seen on Monday. As a result, the beginning of the new week continues to favor the U.S. dollar. As for the reasons behind this move, are they still relevant? For three weeks in a row, we've been repeating the same point: there are no valid reasons for the dollar's growth. Still, on the daily timeframe, the price remains within a flat structure, and within this range (spanning over 400 pips), movements can be entirely random—which is precisely what we're witnessing. There were no significant events or data releases on Tuesday from either the Eurozone or the United States. Not even Donald Trump made any notable comments. Thus, the market had nothing to react to, and yet once again the U.S. dollar strengthened "out of nowhere." At this point, the 1.1604–1.1615 area is offering some support to the euro, but that's not the crucial issue. What truly matters is how easily and effortlessly the price passes through Ichimoku indicator lines, which, in our view, makes the daily timeframe the most relevant for analysis at the moment. On the 5-minute chart, the intraday movements can be clearly observed. The pair descended from the 1.1657–1.1666 area, smoothly passed through the Senkou Span B and Kijun-sen lines, and paused near 1.1604–1.1615. There were no viable entry points, as the price encountered new levels and lines every 10 to 15 pips, leaving no space for unconflicted positions. COT Report The latest Commitment of Traders (COT) report is dated September 23. No new data has been released since then due to the U.S. government shutdown. The chart above shows that non-commercial traders' net positions remained bullish for a long time. Bears briefly gained control in late 2024, but quickly lost it again. Since Trump returned to office for a second term, the dollar has been consistently losing value. While we can't say with certainty that this decline will continue, recent global developments suggest that the likely scenario is further U.S. dollar weakness. Once Trump's trade wars eventually conclude, a dollar rebound is possible. However, recent trends suggest that trade tensions will persist in some form. The potential loss of Federal Reserve independence is another major source of pressure on the greenback. The positioning of the red and blue lines on the indicator still suggests a persistent bullish sentiment. During the last reporting week, the number of long positions among non-commercial traders declined by 800 contracts, while shorts increased by 2,600, leading to a net reduction of 3,400 contracts. However, this data is now outdated and largely irrelevant. EUR/USD 1H Analysis On the hourly timeframe, EUR/USD may have ended its bearish trend two weeks ago. Still, the euro has been falling confidently in recent days—a move that's increasingly difficult to explain without venturing into science fiction. We believe the underlying cause of these illogical movements is the flat range on the daily timeframe. If the 1.1604–1.1615 area is breached, the decline is likely to continue regardless of fundamental justification. For October 22, the following levels are relevant for trading: 1.1234, 1.1274, 1.1362, 1.1426, 1.1534, 1.1604–1.1615, 1.1657–1.1666, 1.1750–1.1760, 1.1846–1.1857, 1.1922, 1.1971–1.1988, as well as the Senkou Span B line at 1.1651 and the Kijun-sen line at 1.1667. Note: the lines of the Ichimoku indicator may shift throughout the day, and this should be accounted for when identifying signals. Also, when the price moves 15 pips in the intended direction, set the Stop Loss to breakeven. This will protect against losses from false breakouts. On Wednesday, European Central Bank President Christine Lagarde will speak once again in the Eurozone. However, she has spoken at least ten times over the last few weeks, and none of those appearances provided the market with meaningful information. In the U.S., the economic calendar is empty once again. Trading Recommendations: On Wednesday, traders may look to trade from the 1.1604–1.1615 area. To open long positions targeting 1.1651, wait for a clear rebound from this area. Short positions may be considered if the price consolidates below 1.1604–1.1615, with a bearish target at 1.1534. Explanation of Chart Elements: Support and resistance levels – thick red lines where price movement may pause or reverse; not direct trade signalsKijun-sen and Senkou Span B – Ichimoku indicator lines transferred from the 4H to the 1H timeframe; they are considered strong levelsExtremes – thin red lines where price has previously reversed; they may act as trade triggersYellow lines – trendlines, channels, or other technical formationsCOT Indicator 1 – net position size of each trader categoryThe material has been provided by InstaForex Company - www.instaforex.com