Bitcoin (BTCUSD) has been experiencing some fluctuations in its latest intraday trading following its break below the 74,000$ support level, amid the continued dominance of the main bearish trend in the short term. Negative pressure also remains valid as the price continues to trade below EMA50, which continues to act as dynamic resistance, limiting the chances of a full recovery in the near term.
This coincides with positive signals beginning to emerge from the relative strength indicators, helping the price hold firm against selling pressure and slowing the pace of its decline. However, continued trading below the moving average keeps the technical balance in favor of the bearish trend and limits the chances of a sustainable recovery in the near term.
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