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Key Highlights

• Bitcoin failed to recover above $90,000 and $90,500.
• BTC/USD is trading below a bearish trend line with resistance at $90,000 on the 4-hour chart.
• Ethereum failed to settle above $3,050 and trimmed some gains.
• XRP price is struggling to settle above the $2.00 resistance.

Bitcoin Price Technical Analysis

Bitcoin price found support near $85,500 and started a recovery wave against the US Dollar. BTC climbed above $87,500 and $88,000 to enter a short-term positive zone.

Looking at the 4-hour chart, the price even surpassed $90,000 before it faced sellers near $90,550. The price started to decline below $89,000. There was a spike below the 50% Fib retracement level of the recovery wave from the $84,384 swing low to the $90,556 high.

BTC is now trading below a bearish trend line with resistance at $90,000, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour).

Immediate support sits at $86,800. A downside break below $86,800 might start another decline. The next major support is $85,200. Any more losses might call for an extended decline toward the $83,500 support zone.

If there is another increase, the price could face resistance near the 100 simple moving average (red, 4-hour) at $89,000. The first key hurdle is near the trend line and $90,000.

A successful close above $90,000 might start another steady increase. In the stated case, the price may perhaps rise toward the $92,500 level. Any more gains might call for a test of $94,000.

Looking at Ethereum, the price failed to settle above $3,050 and recently dipped below $3,000 to enter a bearish zone.

Today’s Key Economic Releases

• US Initial Jobless Claims - Forecast 223K, versus 224K previous.

WTI crude oil: ⬆️ Buy

• WTI reversed from strong support level
•  Likely to rise to resistance level 60.00

WTI crude oil recently reversed up from the support area between the strong support level 55.20 (former monthly low from April and May) and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing – which started the active short-term correction ii.

Given the strength of the support level 55.20, WTI crude oil can be expected to rise to the next resistance level 60.00 (top of the previous wave ii).

Silver: ⬆️ Buy

• Silver broke round resistance level 70.00
• Likely to rise to resistance level 75.00

Silver continues to rise after the earlier breakout of the resistance zone between the round resistance level 70.00 (earlier upward target) and the resistance trendline of the daily up channel from November.

The breakout of this resistance zone accelerated the active impulse wave 3 of the intermediate impulse wave (5) from the start of December.

Given the strong daily uptrend and Momentum, Silver can be expected to rise to the next resistance level 75.00 (target price for the completion of the active impulse wave (5)).

Christmas Trading can be both uneventful and chaotic – some traders rush to exit their long-held positions to take a stress-free holiday rest.

The absence of counteracting parties leads to more erratic flows, as seen in this morning’s Stock Market action.

But away from the traditional Christmas Stock Market trading, Metals trade around global exchanges on a different set of fundamentals.

And it seems that they are the most beneficent victims of Santa's flow.

Just today, Gold came very close to $4,500 before retracting somewhat, but allowed Silver, Platinum, and Palladium to reach multi-year highs (or set new records in the case of Silver).

Ranging from 0.70% for the Yellow Metals to above 5.50% for Platinum and Palladium, they are grabbing all the attention of the few traders that still have skin in the game before 2025 ends.

A look at the daily performance in Metals, December 23, 2025 – Source: TradingView. XAG = Silver, XAU = Gold, XCU = Copper, XPT = Platinum, XPD = Palladium

It could be the final bouts of volatility for Markets, but keep a close eye on whether geopolitical tensions arise, which could add more fuel to Commodities.

As many institutions are out to defend certain products, you can also attempt to capture some rare holiday algorithmic patterns – these require thorough study of charts and may not be found until a while.

Let's dive in a quick overview of the daily flows and some short-term trading levels for Gold (XAU/USD), Silver (XAG/USD) and Platinum (XPT/USD).

Gold 4H Chart and Technical Levels

Gold (XAU/USD) 4H Chart, December 23, 2025 – Source: TradingView

The breakout towards new all-time highs is currently ongoing. Watch reactions when prices reach the $4,575 level (high of the measured move).

Levels to watch for Gold (XAU/USD) trading:

Resistance Levels

• $4,497 Current all-time High
• Potential new ATH resistance (Measured Move) $4,500 to $4,575
• 1.618% Fibonacci Projection $4,687

Support Levels

• Preceding All-time High Pivot $4,300 to $4,400
• Key Support and Triangle top $4,200 to $4,240
• 50-Day MA $4,150
• Major Pivot $3,950 to $4,000 (200-period MA)
• $3,700 consolidation Support
• $3,500 Major Support

Platinum 4H Chart and Technical Levels

Platinum (XPT/USD) 4H Chart, December 23, 2025 – Source: TradingView

Platinum is just going mental at this point.

Up 10% in the past 24 hours and not stopping anywhere, it really could attempt a move to catch up to Gold if things continue that way (even if there's quite some way to go towards that target).

Platinum Technical Levels to keep on your charts:

Resistance levels

• $2,299 March 2008 All-time High
• Session highs $2,275
• $2,500 Psychological Level

Support levels

• May 2008 Support $2,050 to $2,100
• $1,950 Past Day Highs retest support
• 2025 Channel upper bound $1,850 (Mini-Support)
• 2013 and Current year highs $1,700 to $1,750
• $1,620 to $1,650 FOMC Support
• Major High Timeframe pivot $1,500 to $1,600

Silver 4H Chart and Technical Levels

Silver (XAG/USD) 4H Chart, December 23, 2025 – Source: TradingView

Silver is still following closely its upward-channel and hasn't retraced in quite a while.

A potential Fibonacci-resistance is coming up at around $71.40 at a confluence with the top of the 4H Channel. Above this there will be not resistance until the $75 psychological level.

Levels to watch for Silver (XAG/USD) trading:

Resistance Levels:

• Daily Highs and potential Resistance $70 to $71.40
• $71.10 Session highs
• $75 Potential Psychological Resistance

Support Levels:

• Pivot $65 to $67 at Previous All-time Highs
• Major Intraday Support $61 to $63
• Pre-FOMC Support $58.00 to $60

Safe Trades and Merry Christmas!

Daily Pivots: (S1) 210.83; (P) 211.21; (R1) 211.81; More...

Intraday bias in GBP/JPY is turned neutral with current retreat, and some consolidations would be seen. Downside of retreat should be contained above 206.74 support to bring another rally. On the upside, break of 61.8% projection of 184.35 to 205.30 from 199.04 at 211.98 will extend current up trend to 100% projection at 219.99 next.

In the bigger picture, up trend from 123.94 (2020 low) is in progress. Next target is 61.8% projection of 148.93 to 208.09 from 184.35 at 220.90. On the downside, break of 199.04 support is needed to indicate medium term topping. Otherwise, outlook will stay bullish even in case of deep pullback.

Daily Pivots: (S1) 184.33; (P) 184.62; (R1) 185.01; More...

Intraday bias in EUR/JPY is turned neutral with current retreat and some consolidations would be seen. Downside should be contained above 181.98 resistance turned support to bring another rally. On the upside, break of 184.89 temporary top will resume larger up trend to 186.31 long term projection level next.

In the bigger picture, up trend from 114.42 (2020 low) is in progress and should target 61.8% projection of 124.37 to 175.41 from 154.77 at 186.31. Considering bearish divergence condition in D MACD, upside could be capped by 186.31 on first attempt. Still, outlook will stay bullish as long as 55 W EMA (now at 170.83) holds, even in case of deep pullback. Sustained break of 186.31 will pave the way to 100% projection at 205.81 next.

Daily Pivots: (S1) 0.8721; (P) 0.8743; (R1) 0.8761; More…

EUR/GBP is staying above 0.8720 support despite today's decline. Intraday bias stays neutral, and further fall is mildly in favor with 0.8800 resistance intact. On the downside, break of 0.8720 will bring deeper fall to 0.8631 cluster support (38.2% retracement of 0.8221 to 0.8663 at 0.8618). However, on the upside, break of 0.8800 will argue that the fall has completed as a correction, and turn bias back to the upside for retesting 0.8863.

In the bigger picture, rise from 0.8221 medium term bottom is still seen as a corrective move. Upside should be limited by 61.8% retracement of 0.9267 to 0.8221 at 0.8867. Sustained trading below 55 W EMA (now at 0.8610) should confirm that this corrective bounce has completed. However, decisive break of 0.8867 will suggest that EUR/GBP is already reversing whole decline from 0.9267 (2022 high). That should pave the way back to 0.9267.

Daily Pivots: (S1) 1.7632; (P) 1.7684; (R1) 1.7718; More...

EUR/AUD's break of 1.7635 support suggests that rebound from 1.7477 has completed. And fall from 1.8160 is still in progress. Intraday bias is back on the downside for 1.7477 first. Break there will target 1.7245 support and below. Overall, corrective pattern from 1.8554 could extend further.

In the bigger picture, as long as 55 W EMA (now at 1.7468) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it's already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.

Daily Pivots: (S1) 0.9304; (P) 0.9314; (R1) 0.9323; More....

EUR/CHF's fall from 0.9394 continues today and intraday bias stays on the downside. The break of 55 D EMA (now at 0.9317, argues that rebound form 0.9178 has already completed. Deeper fall would be seen back to retest 0.9178 low. On the upside, above 0.9326 minor resistance will turn intraday bias neutral again first.

In the bigger picture, EUR/CHF has breached long term falling channel resistance as the rebound from 0.9278 extends. Considering bullish convergence condition in W MACD, sustained trading above 55 W EMA (now at 0.9369) will indicate medium term bottoming at 0.9178, and suggests that it's already in larger scale rebound. Further break of 0.9452 resistance will bring stronger medium term rally towards 0.9928 resistance next. Nevertheless, rejection by 55 W EMA will retain bearishness for another fall through 0.9178 at a later stage.