Bitcoin, Gold, and Silver Show Signs of Weakness Amid Market Shifts

Bitcoin, Gold, and Silver are facing potential breakdowns despite bullish attempts to sustain upward momentum. The recent US-China truce appears to have reduced market uncertainty, leading investors to rotate capital away from traditional safe havens.

Bitcoin’s price has been consolidating along an ascending trendline in October, capped at $111,999. Bears continue to defend this resistance, with the RSI hovering at 46, signaling weakening momentum. The 9-day Simple Moving Average (SMA) at $111,281 also acts as a near-term barrier, applying downward pressure. If Bitcoin fails to hold the ascending trendline, it could slide to $106,234 or even $100,718. On the upside, a decisive break above $111,999 could pave the way toward $117,552 and potentially $123,084, though only a daily close above $123,891 would confirm a strong bullish reversal toward $126,199.

Gold, meanwhile, shows similar exhaustion. After a strong rally driven by trade war uncertainty, the metal now risks falling below $4,000. The RSI’s decline below 50 suggests waning momentum, with a break below $3,971 likely confirming further downside. However, bulls remain active near current levels; sustained buying could push prices above $4,046, signaling renewed strength.

Silver’s technicals also flash warning signs. The RSI indicates a bearish crossover, historically followed by price drops. Silver could test $47.41 or even $45.51 if the correction deepens. Nonetheless, strong support lies near the 50- and 200-day SMAs at $48.16 and $47.73. Should buying momentum rebound, Silver may target resistance near $49.9 and eventually $51.01.

As markets digest easing geopolitical tensions, traders remain cautious. The next decisive move across Bitcoin and precious metals may hinge on renewed demand or further macroeconomic clarity.