Rolls-Royce share price pulled back on Thursday after the company published an encouraging trading statement that illustrated strong results. RR stock was trading at 1,140p, down from the year-to-date high of 1,193p. So, will the stock resume the uptrend after the results?

Rolls-Royce Holdings business is doing well 

The Rolls-Royce stock price is hovering near its all-time high as its business continued its recovery amid strong demand for its products and services.

In a statement, the management said that its performance was in line with its expectations, meaning that it will make between £3.1 billion and £3.2 billion in underlying profit this year.

The company is seeing strong demand for its engines, including from companies in the South Asian region, including companies like IndiGo, Malaysia Airlines, and Avolon. It is also seeing some demand for the A350F, especially from Chinese clients.

Global airlines are doing well this year, with their revenue and load factors increasing despite the substantial risks, including the recent government shutdown in the United States and Donald Trump’s tariffs.

At the same time, the company’s engine prices have risen a bit because of the ongoing supply chain challenges and a global shortage of engines. Also, newer engine maintenance is taking longer because of the growing backlog.

Rolls-Royce has also become an indirect beneficiary of the ongoing artificial intelligence industry because of its power businesses, which makes engines used by utilities and other companies. It is also working on the next-generation engine that will be specifically aimed at the date center industry.

Rolls-Royce’s defense business is also thriving as geopolitical tensions remain. It cited a recent deal between Turkey and the UK that will see the former buy 20 Eurofighter Typhoon aircraft that will use Rolls-Royce’ s engines. The CEO said:

“Strong performance across the Group, driven by our actions and strategic initiatives, was in line with our expectations. This builds further confidence in our Full Year 2025 guidance of underlying operating profit of between £3.1bn and £3.2bn despite continued supply chain challenges.”

These results mirrored those of GE Aerospace , it competitor that also published strong financial results. 

Rolls-Royce share price technical analysis 

The daily timeframe chart shows that the RR stock price has been in a strong uptrend this year, eventually reaching an all-time high of 1,193p.

It has remained above the 50-day and 200-day Exponential Moving Averages (EMA), a sign that bulls are in control.

The risk, however, is that the stock has formed a double-top pattern, which is made up of two peaks and a neckline, which, in this case, is at 1,087p. A double-top is one of the most bearish patterns in technical analysis.

The Bull/Bear Power indicator has moved below the zero line, a sign that bears have prevailed. Therefore, there is a risk that the stock may pull back in the near term. If this happens, the next key level to watch will be at 1,087p. 

On the flip side, a move above the double-top point at 1,193p will invalidate the bearish outlook and point to more upside, potentially to the psychological level at 1,200p.

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Lloyds share price is closing in on hitting the 100p mark as the multi-year rally gains steam. The stock jumped to a multi-decade high of 95.4p, continuing a trajectory that started in 2020 when it bottomed at 18.56. So, will the LLOY rally accelerate?

Why Lloyds share price is soaring

Lloyds, like other European banks, has been in a strong rally in the past few years, bringing its market capitalization to over $70 billion. 

This rally is accelerating at a difficult time for the UK, which is going through a triple-whammy of slow growth, high inflation, and taxes. Rachel Reeves, the Chancellor of the Exchequer, is considering announcing more taxes in her budget speech later this month. 

She has also considered a windfall tax on the country’s banks, which have made billions of pounds in profits after the Bank of England hiked interest rates.

LLOY stock has jumped as investors cheered its earnings and its acquisition of Schroders Personal Wealth, a company that has over £17 billion in assets under management and 60,000 clients. The new business is now known as Lloyds Wealth.

The company also published strong financial results, which showed that its net interest income rose by 3% in the third quarter to £3.45 billion. Similarly, the other segment reported a 3% jump in income to £1.55 billion, bringing the total YTD income to £4.6 billion. 

The only blemish in that report was its remediation costs, which surged to £875 million in the third quarter. This increase was because of the motor vehicle insurance claims that has been hunting the company for years. On the positive side, there are signs that the crisis is about to end.

The remediation cost dragged its profits, with the third quarter figure falling by 45% to £778 million. Its underlying profit was £1.2 billion, a 36% drop from the same period last year.

Lloyds Bank share price has also done well in the past few years as it continued to gain market share in the UK despite the ongoing competition from brands like Barclays, NatWest, and HSBC. Its lending in the third quarter rose by £6.1 billion to £477 billion, while its deposits rose to £496 billion during the quarter.

Additionally, Lloyds’ share price has done well as the company continued to lower its costs, partly through branch closures. Its operating costs rose by 3% in the last quarter to £7.2 billion.

Lloyds Bank has also continued to return substantial sums of money to its investors through dividends and share repurchases. This will continue as the company reduces its CET-1 ratio to 13%.

Lloyds stock price technical analysis 

The daily timeframe chart shows that the Lloyds stock price has been in a strong uptrend in the past few years and is now attempting to move above the resistance level at 100p.

It has recently moved above all moving averages, while the Relative Strength Index (RSI) and other oscillators like the Stochastic and the MACD have continued rising and moved to the overbought level.

Lloyds’ Average Directional Index (ADX) has jumped to 40, a sign that the momentum is accelerating. Therefore, the most likely scenario is where the stock maintains the momentum and hits the resistance level at 100p and then pulls back as investors book profits.

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A crypto market crash is happening today, Nov. 12, with most tokens being in the red. Bitcoin price crashed below $103,000, while most tokens were down by over 5%. 

Starknet (STRK) tokens dropped by 16% in the last 24 hours, while Zcash, Internet Computer, Pump, and Filecoin plunged by over 13%.

Other top laggards in the crypto industry were coins like Immutable, Ethena, Arbitrum, Official Trump, and Uniswap, which plunged by over 10% in the last 24 hours.

Crypto market crash caused by profit-taking and panic selling 

One of the top reasons why the crypto market crash is crashing today is that investors are simply taking profit after a strong rally recently.

A closer look at the top laggards mentioned above shows that they were the top gainers recently. Starknet was the best gainer on Monday even as investors waited for its large token unlock.

Zcash price has made headlines as it jumped from $30 to over $700 in less than a month, leading to more demand for privacy tokens like Dash and Monero. It is now plunging as investors start to book profits and as it enters the distribution phase of the Wyckoff Theory.

Uniswap price was also the top gainer this week after the developers announced a large-scale token burn initiative. WLFI token also jumped after a major Donald Trump victory in the US, where he secured a vote to reopen the government without making major concessions to the Democrats.

Crypto crash happening as liquidations rise 

The crypto market crash is happening because of the rising liquidations, which caught many bulls off guard.

Bitcoin positions worth over $115 million were liquidated in the last 24 hours. Ethereum, Zcash, and Solana positions worth over $26 million were liquidated in this period. Over 150,000 traders were wiped out.

A liquidation is a situation where an exchange closes long positions once a certain level, known as a margin call, is reached. It normally leads to more selling pressure in the market.

Crypto traders have good memory and many of them remember what happened on October 11 when over 1.6 million traders were wiped out in a single day, losing over $20 billion. Since then, many of these trades have remained in the sidelines as they fear being wiped out again.

A good example of this is the futures open interest and the funding rate. Open interest in the futures market has plunged to $142 billion, down from over $250 billion a month ago. Bitcoin’s interest has moved from $94 billion in October to $68 billion today. The same is happening among other tokens in the crypto industry.

Most importantly, the funding rate for most cryptocurrencies has remained flat in the past few days as activity in the futures market waned

ETF demand has deteriorated 

The other main reason why the crypto market crash is happening is that ETF demand has crashed in the past few weeks. Data shows that Bitcoin ETFs have had just $1.5 million in inflows this week after they shed $1.2 billion last week. They had shed $798 million in assets a week before.

Ethereum ETFs have had no inflows this week after they shed $504 million last week. These ETFs have shed about $2 billion in assets in the last few weeks. This is a sign of low demand in the market.

The same is happening among Digital Asset Treasury companies, which have largely stopped buying as their stock prices plunged. While Strategy is still buying, other companies like GameStop and MetaPlanet have largely paused as their NAV multiples fall.

Another reason for the crypto crash is the correlation with the stock market, which plunged on Tuesday, with companies like NVIDIA and CoreWeave leading the way.

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The Bayer share price jumped by over 3% after the company published encouraging financial results. BAYN jumped to a high of €27.43 a, up from this month’s low of €25.74. So, will these gains hold?

Bayer stock jumps after earnings

The Bayer stock price rose after the company reported better-than-expected financial results. Its adjusted earnings rose to €1.51 billion, higher than the median estimate of €1.29 billion that analysts were expecting.

Most importantly, the company announced that it was confirming it outlook for the year even as provisions for its Monsanto crisis continued. It now expects its annual revenue to rise by 2% YoY from last year’s €22.3 billion.

Bayer’s nine-month revenue rose by 1% to €34.1 billion, while it core earnings-per-share rose to €4.29. Its pharmaceutical business made €4.335 billion, down from the previous €4.5 billion^.. The EBITDA remained unchanged at €1.07 billion.

The consumer health business made €1.415 billion from the previous €1.4143 billion, helped by its dermatology and digestive health businesses that helped to offset the slowdown in allergy and cold categories.

Meanwhile, the crop science division, which has cost it billions of euros over the years slowed to €3.85 billion. This slowdown was offset by a jump in corn seed business, whose revenue rose by 16%. The CEO said:

“We’re convinced our multi-pronged strategy is the right one. As we continue to advance it, we’ll continuously adjust our approaches to resolution. Bayer is making significant progress and is confident the company will be able to significantly contain the litigation risk by the end of 2026.”

These results came as the company continues to ponder on what to do with its Roundup product, which is one of the most common weedkillers in the world. According to Bloomberg, the company is pondering on whether to discontinue a product that makes it billions amid heightened litigation risk.

The company is also under pressure from activist investors who are calling for the breakup of the company, a move that will separate the crop science division from its pharmaceutical and consumer health. The argument is that such a separation would be a good way to create value to the company.

Bayer share price technical analysis

The daily timeframe chart shows that the BAYN stock price has rebounded in the past few months. It has jumped from a low of €18.32 to a high of 29. This rebound happened as investors started to predict the end of the litigation.

The stock is attempting to move above the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bulls are in control.

However, the stock has formed a double-top pattern at €29.8, a popular bearish reversal pattern. It remains below the Supertrend indicator and the Ichimoku cloud indicators, a sign that bears are in control.

Therefore, the most likely scenario is where the stock remains in this range for a while. Whether it makes a bullish or bearish breakdown will depend on flipping key levels like €25 and €29. 

A move above the resistance level at €29 will confirm a bullish breakout, while a drop below the support at €25.70 will point to more downside. In this case, the key targets will be at €25 and €30.

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The Swiss franc rebounded against the US dollar as hopes of a deal between the US and the country continued. The USD/CHF pair was trading at 0.7990, down from this month’s high of 0.8117. It has crashed by 13% from its highest level this year. 

Swiss franc gains amid trade hopes

The USD/CHF exchange rate has been in a strong downtrend in the past few months. This retreat happened because of the overall weakness of the US dollar, with the DXY Index falling from $110 in January to $99 today. 

The dollar has crashed against most currencies because of Donald Trump’s policies on tariffs and other issues. At the same time, investors have moved to the Swiss franc because of the country’s stability and neutrality in the biggest issues globally. 

Now, there are hopes that the US will reach a deal with Switzerland soon. These hopes rose after Donald Trump met with some of the biggest business leaders in the country, including the heads of companies like Rolex, Partners Group,  and Richemont. 

The hope is that the US will lower the country’s tariff from 39% to about 15%. According to Bloomberg and Reuters, a deal is expected to be reached in the next two weeks. 

Trump imposed a large tariff against Switzerland, pointing to its $40 billion surplus with the US. This surplus comes from the exports of products like pharmaceutical products, precious metals, watches, and medical apparatus. 

Trump has always complained about Switzerland’s use of its currency to boost its exports. This, however, seem not to apply this year as the Swiss franc has jumped. 

Switzerland, on the other hand, has argued that it is a big importer of US goods and services. 

Federal Reserve and Swiss National Bank policies

The USD/CHF exchange rate has pulled back in the past few months because of policies by the Federal Reserve and the Swiss National Bank (SNB).

The Fed has slashed interest rates once and policymakers have hinted that they will deliver more cuts in the coming months. Polymarket traders have placed the odds of a December rate cut at 75%.

Meanwhile, the SNB has maintained a dovish tone as it delivered two interest rate cuts twice, bringing the benchmark rate to 0.0%. Officials have hinted that they may move to negative interest rates now that the country’s inflation has dropped to 0.22%.

USD/CHF technical analysis

The daily timeframe chart shows that the USD to CHF exchange rate has pulled back from the year-to-date high of 0.9200 to the current 0.800. It has moved below the 50-day and 100-day Exponential Moving Averages (EMA), a sign that bears are in control.

The pair has formed a bearish flag pattern, which normally leads to more downside. Also, the Relative Strength Index (RSI) and the MACD have pointed downward. 

Therefore, the pair will likely continue falling, with the next key target being at 0.7860. A move below that level will point to more downside, potentially to the psychological level at 0.7800.

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The crypto market was on edge today, Nov. 12, as investors remained fearful following last month’s liquidations. Bitcoin price was trading at $104,700, up from this month’s low of $100,000. This article provides forecast for some top coins like Internet Computer (ICP), Trump Coin (TRUMP), and Ripple (XRP).

ICP price forecast

The ICP price soared to a high of $9.812 on November 8, up by 375% from its lowest level in October. This rebound happened as investors cheered the launch of Caffeine, its AI platform for building websites and applications. It also jumped as the supply of stablecoins in the platform soared. 

The coin has now pulled back to $6, retesting an important level where it failed to move above four times earlier this year. It has formed a break-and-retest pattern, a common bullish continuation sign in technical analysis. 

ICP price has moved above the 50-day and 200-day Exponential Moving Averages (EMA). The two averages are about to cross each other in a process known as a golden cross. 

Therefore, the coin will likely have a rebound, moving to this month’s high of $9.812. A move above that level will point to more gains, potentially to last November high of $15.507, which is about 136% above the current level. 

On the flip side, a move below the psychological point at $5 will invalidate the bullish ICP forecast. 

Trump Coin price forecast

The Trump Coin token rebounded from a low of $4.60 in October to a high of $9.48. This rebound has coincided with the performance of other cryptocurrencies. On Monday, the coin jumped after Donald Trump secured the reopening of the government without making any concessions. 

The rally was short-lived, and the coin pulled back to the current $7.83. It has formed an inverse head and shoulders pattern, which is a common bullish continuation sign. 

The coin has formed a falling wedge pattern, which is made of two descending and converging trendlines. It has already moved above the upper side of this wedge and retested it, confirming the bullish breakout. 

Most oscillators, like the Relative Strength Index (RSI) and the MACD have all moved upwards. Therefore, the token will likely have a bullish breakout as bulls target the psychological point at $10. A move below the support at $6.90 will invalidate the bullish outlook.

XRP price technical analysis

XRP price remained on edge today as investors waited for the upcoming ETF approval. It was trading at $2.4220, which is slightly below the 50-day Exponential Moving Average (EMA). 

The token is between the descending channel shown in red. This channel is part of the second phase of the Wyckoff theory. It has also formed a double-bottom pattern at $2.1700 and a neckline at $2.6730. 

A move above that resistance level will point to more gains, potentially to the psychological point at $3. On the flip side, a move below the double-bottom pattern at $2.1700 will invalidate the bullish outlook.

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CoreWeave stock price has pulled back in the past few weeks, moving to the lowest level since September 9, as concerns about the AI bubble remains. It also retreated as competition in the industry rose, and as investors waited for the upcoming earnings, which would provide more color on its business. 

It was trading at $105, down by 32% from its highest level this month ahead of its quarterly financial results.

CoreWeave earnings ahead 

The main catalyst for the CRWV stock price this week will be the upcoming financial results, which will provide more information about its growth, spending, and color on the end of the Core Scientific buyout process.

Analysts believe that CoreWeave will publish strong numbers as demand for AI solutions is still soaring. A good example of this is the recently signed deals, including the $14.2 billion infrastructure partnership with Meta Platforms and the multi-billion-dollar one with OpenAI. 

Its OpenAI deal started at $11.9 billion, and was then expanded by $4 billion. The company has also reached deals with companies like Cohere, Mistral, Novel, and Woven, a Toyota company. 

The most recent results showed that CoreWeave’s revenue jumped by 207% from the same period last year. Its revenue backlog jumped by 86% to $30.1 billion, while its adjusted EBITDA jumped to $753 million, representing a 62% margin.

The main challenge for CoreWeave is that its capital expenditures remain at an elevated level, with the company spending $2.9 billion in the second quarter. Its guidance was that it would spend over $26 billion building its data centers this year.

Data compiled by Yahoo Finance shows that the company’s third quarter revenue will be $1.26 billion, a big increase from its guidance last year. Analysts also expects its revenue guidance for the current quarter to be $1.79 billion, and the annual figure to be $5.26 billion.

CoreWeave’s earnings per share (EPS) is expected to come in at a 51-cent loss, which will be worse than the recent $0.42. Its EPS figure has missed analysts’ estimates in the past few quarters. 

Potential risks remain

CoreWeave has several potential risks in the coming months. The first major one is that competition in the AI data center industry has jumped in the past few months, with companies like IREN, Terawulf, Bitfarm, and Nebius coming to the industry. 

Nebius recently won a $17.4 billion AI infrastructure deal with Microsoft, while IREN reached a $9.7 deal with Microsoft. TeraWulf reached a large deal with Fluidstack, a company backed by Google.

As such, the company may struggle to find other large-scale customers in the future. 

The other risk is that there is a lingering fear that the AI bubble may burst soon. Such a move may lead to lower spending by large companies in the US and other countries. 

Additionally, the company faces the risk of fundraising and pressure from short sellers. Its short interest stands at 29.4 million shares, giving it a short interest of about 10.40%.

CoreWeave stock price analysis

The 12-hour chart shows that the CoreWeave share price has pulled back in the past few days, moving from a high of $152 in October to the current $104. It has moved below the 50% Fibonacci Retracement level and the 50-period Exponential Moving Average (EMA).

Therefore, the stock will likely have a bearish breakout in the coming days. If this happens, the next key level to watch will be at $84.70, its lowest level in August this year. A move above the 50-period moving average at $124 will invalidate the bearish outlook.

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Applied Materials stock price has staged a strong rally this year and is now hovering near its all-time high. AMAT was trading at $230, lower than the record high of $252, and 87% above the lowest level this year. 

Applied Materials earnings preview

Applied Materials is a top company that provides products that are widely used in the technology industry. Precisely, it provides its products to companies like TSMC, Micron, SK Hynix, Intel, and Samsung. 

AMAT’s biggest business is in the semiconductor manufacturing equipment industry, where it provides products used in deposition, etching, metrology and inspection, and ion implantation. 

Applied Materials is benefiting from the ongoing artificial intelligence (AI) trend in the United States and other countries. While it does not manufacture these chips itself, its technology is used by amost all companies in the industry. 

The next important catalyst for the AMAT stock price will be its financial results, which will provide more information on its revenue growth and margins.

There are chances that its business will report strong numbers now that some of it clients like Samsung, TSMC, and Global Foundries have all published strong financial results. 

The most recent numbers revealed that Applied Materials revenue rose by 8% in the third quarter to $7.3 billion. Its net income rose by 4% to $1.77 billion, while its operating margin rose to 30.6%.

Analysts, based on the management’s guidance, expect that this week’s results will show a deceleration of revenue. The average estimate among analysts is that its revenue fell by 5.24% to $6.88 billion, bringing the annual figure to $28.26 billion. In the recent statement, the management said:

“We are expecting a decline in revenue in the fourth quarter, driven by both digestion of capacity in China and nonlinear demand from leading-edge customers given market concentration and fab timing.” 

AMAT valuation concerns remain

The main concern about Applied Materials is that it is relatively overvalued, especially for a company whose growth has slowed recently. 

The company has a forward price-to-earnings ratio of 27, higher than the S&P 500 Index average of 22.7. Its PEG ratio, which includes the price-to-earnings multiple and growth, has jumped to 3.21, which is higher than the sector median of 1.75.

The other risk is that the AMAT stock price is higher than the average estimate among analysts. These analysts expect that the stock will drop to $214. 

Applied Materials stock price analysis

AMAT stock chart | Source: TradingView

The weekly chart shows that the AMAT stock price has rebounded in the past few months, moving from a low of $122.8 in March to a high of $242 this week. It has remained above the 50-week and 200-week Exponential Moving Averages (EMA), a sign that bulls are in control.

The stock is now nearing the all-time high of $252, where it may form the risky double-top pattern whose neckline is at $122, its lowest level in April this year. 

Therefore, the most likely AMAT stock price forecast is bearish as long as it remains below the double-top level of $252. A move above that level will point to more gains, potentially to the psychological point at $260.

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Nebius stock price has done well this year as the company continued to benefit from the artificial intelligence (AI) tailwinds and soaring demand for its solutions. NBIS was trading at $120 in the pre-market session, up by 530% from its lowest level this year. 

Why Nebius stock is soaring this year

The Nebius stock price has been in a strong bull run this year, outperforming top indices like the S&P 500 and Nasdaq 100. 

Its rally is because of the business it is in, where it operates large data centers, which have seen strong demand amid the ongoing AI craze. 

A good example of this is the recent $17.4 billion deal with Microsoft. In this deal, Nebius will supply GPU infrastructure and dedicated AI capacity from it new data center in New Jersey. 

The company hopes that its business will continue seeing more large-scale clients in the coming months. Some of the potential clients would be large companies like OpenAI, Anthropic, Amazon, xAI, and Oracle. 

The ongoing NBIS stock price surge is in line with the ongoing performance of companies in the industry. Other top gainers in the industry are firms like CoreWeave, IREN, and Terafirm.

Nebius stock price has also jumped after Avride, it autonomous vehicle company, received a $375 million investment from Uber. Avride has an existing relationship with Uber, which will launch its robotaxis later this year. 

Nebius to release its earnings report

The next important catalyst for the Nebius stock price is the upcoming earnings, which will provide more information about its business.

Analysts anticipate the results to show that its revenue rose to $155 million in the last quarter. This figure is then expected to jump to $265 million in the next quarter, bringing the annual revenue to $578 million. The annual revenue will be $578 million, up by 392% from what it made last year.

Analysts also expects the company’s growth to gain momentum, with its revenue hitting $1.67 billion next year. However, it will make a big loss as it continues investing in its growth by building more data centers.

The upcoming results will provide more color on the recently launched Nebius Token Factory, its recently launched product. NTF is a new production inference platform that enables vertical AI companies to deploy and optimize open-source and custom models at scale.

The most recent results showed that Nebius’ business was in a strong upward trajectory. It made $105 million, up by 625% from the same period ast year. Its CEO said:

“Demand for AI infrastructure — compute, software and services — is only going to get stronger as use cases multiply. We are aggressively scaling up capacity to capture this substantial opportunity and are in the process of securing more than 1 GW of power by the end of 2026.

Still, there are potential catalysts for Nebius and its stock. The first one is its pricey valuation, which stands at over $28 billion, giving it a forward P/E ratio of 114. 

Also, the company’s industry is becoming highly competitive as firms like IREN, Terawulf, and Bitfarms joining the industry. The other risk is that the hyped AI bubble may burst soon, a move that will affect companies in the sector.

NBIS stock has formed a double-top pattern

NBIS stock chart | Source: TradingView

The other major risk the Nebius stock price has had is that it has formed a double-top pattern at around $130 and a neckline at ~$95. This pattern points to an eventual pullback in the coming days, potentially to $90.

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Bitcoin price held steady on Tuesday morning as investors reflected on the latest developments in the United States, where the longest government shutdown is about to end, removing one of the biggest risks in the market this year. The coin jumped to a high of $106,400, much higher than last month’s low of $98,600.

End of the government shutdown 

The main catalyst for Bitcoin and other cryptocurrencies this week is that the longest government shutdown in US history is about to end after a group of eight Democratic senators switched sides and voted for the end of the shutdown.

For starters, this shutdown started a few weeks ago when the two sides disagreed on how to keep the government funded. Republicans preferred a clean funding bill, while Democrats wanted to use leverage to undo some of the policies that Republicans implemented. 

The end of the government shutdown benefits Bitcoin by removing one of the biggest risks in the market. It will also help traders and policymakers in terms of official macroeconomic numbers. 

On the positive side, there are signs that the Federal Reserve will continue to cut interest rates in the coming meeting. Data on Polymarket shows that the odds of a cut have jumped to over 70% from last week’s low of 65%. 

Bitcoin and other altcoins normally do well when the Federal Reserve is cutting rates. Indeed, the BTC price surged to a record high last month, a week after the bank delivered its first cut of the year. 

Bitcoin price weekly chart analysis

The weekly chart shows that the Bitcoin price has remained on edge in the past few weeks. On the positive side, the coin has remained consistently above the 50-week Exponential Moving Average (EMA). That is a sign that bulls remain in control for now. 

However, a closer look shows that the coin has formed a double-top pattern at $124,400 and a neckline at $107,485. A double-top is one of the riskiest patterns in technical analysis. 

At the same time, the Relative Strength Index (RSI) and the MACD indicators have formed a bearish divergence pattern. This pattern happens when the two indicators move downwards as an asset’s price rises. 

Meanwhile, the coin has also formed a rising wedge, which is made up of two ascending and converging trendlines. This pattern also often leads to more downside over time. 

As such, this chart points to more downside in the near term, potentially to $100,000 and below. The bearish outlook will become invalid if the coin moves above the key resistance level at $124,380.

BTC price daily chart analysis

The daily chart shows that the BTC price has rebounded in the past few days amid enthusiasm about the end of the government shutdown. 

It has now retested the important resistance level at $107,060, its lowest level in September, and the neckline of the double-top pattern. This means that it has done a break-and-retest pattern, a common bearish continuation sign.

The coin has also formed a death cross pattern as the 50-day and 200-day Weighted Moving Averages (WMA) have crossed each other. Also, the Average Directional Index (ADX) has stalled at 25, a sign that the trend is not all that strong.

Therefore, like on the weekly chart, there is a likelihood that the coin will continue moving downwards in the near term. If this happens, the next level to watch will be at $100,000. A move below that level will point to a crash to $96,790, the 38.2% retracement level.

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