Bitcoin Faces Pullback Warnings as USDJPY Breaks Key Level
The cryptocurrency market is experiencing some warning signs as Bitcoin (BTC) and other assets face potential pullbacks. According to recent analysis, BTC has already closed below its first support fan line at $80,443, a short-term level that still holds significance. A close above this level would establish a strong continuation trend, while rejection points lower could indicate a reversal.
The 4-hour chart for BTC shows two TBO Close Longs, the first bearish reversal warnings in weeks, but they remain early warnings rather than a confirmed reversal. In contrast, Ethereum (ETH) remains constructive without an early 4-hour warning, and its market cap is different from others as it pushed higher and formed bearish RSI divergence.
Meanwhile, USDJPY has broken through its decisive level of 155.025, starting the bearish snowball with momentum building. The daily TBO Breakdown for USDJPY is forming late after the dump, suggesting a likely bounce range rather than uninterrupted downside.