Bitcoin (BTCUSD) ends any hope for a recovery-Analysis-29-08-2025
AI Summary
- Bitcoin (BTCUSD) declined after reaching EMA50 and testing main bearish trend, settling below $112,000 resistance
- Negative signs on RSI suggest further decline in BTCUSD price, with target support level at $109,000
- Expected trading range between $109,000 support and $113,000 resistance, forecast is bearish
The price of Bitcoin (BTCUSD) declined in its last intraday trading, after reaching the EMA50, accompanied by testing the main bearish trend on the short-term basis, which pushed the price to surrender to the negative pressures, to settle below the critical resistance at $112,000.
This decline was supported by the negative signs on the (RSI) that entered sever overbought levels, reinforcing the strength of the negative pressures and weakened the chances of an intraday recovery.
Therefore, our expectations suggest a decline in (BTCUSD) price in the upcoming intraday trading, if it settles below $112,000, to target the support level at $109,000.
The expected trading range is between $109,000 support and $113,000 resistance.
Today’s forecast: Bearish
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Crude oil prices decline by its current resistance's effect- Analysis-29-08-2025
The (crude oil) price declined in the last intraday trading, after hitting $64.00 resistance, which represents the previous target, attempting to gather a new bullish momentum that might allow it to breach this resistance, this comes amid the dominance of the bullish correctional trend on the short-term basis, besides its trading alongside supportive bias line for the trend.
Despite the continuous support that comes from its stability above EMA50, but the negative divergence on the (RSI) with the negative overlapping signals that might push the price to temporary correctional declines, to offload the overbought condition before any new attempt to rise.
Therefore, we suggest a rise in (crude oil) prices in the upcoming intraday trading, conditioned by breaching $64.00 resistance, to target its critical resistance at $65.00.
The expected trading range is between $63.00 support and $65.00 resistance.
Today's forecast: Bullish
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Gold price gathers gains - Analysis-29-08-2025
The (Gold) price declined in its last intraday trading in a natural profit taking after strong bullish wave, amid its attempts to offload the clear overbought conditions on the (RSI), which began showing negative overlapping signal, this intraday decline might provide a chance for taking its breath and gathering its positive strength again.
Despite the current decline, gold remains supported by its trading above EMA50, besides the dominance of the bullish trend on the short-term basis alongside a minor bias line, reinforcing the possibilities for resuming the strong rise.
Therefore, our expectations suggest a rise in (Gold) price in its upcoming intraday trading, especially when confirming breaching the main resistance at $3,400 by holding above it, to target the critical resistance level at $3,435.
The expected trading range is between $3,380 support and $3,435 resistance.
Today's forecast: Bullish
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EURUSD attempts to offload its overbought condition -Analysis-29-08-2025
The (EURUSD) declined in its last intraday trading, in a natural profit taking move after its previous rise, attempting to gain bullish momentum that might support it to return to rise again, accompanied by the attempts of the price to offload the clear overbought conditions on the (RSI), after reaching exaggerated high levels.
Despite this slight decline, the price remains supported by its trading above EMA50, besides the dominance of minor bullish wave on the short-term basis, keeping the expectations valid unless it loses its current support levels.
Therefore, our expectations suggest a rise in the (EURUSD) price in its upcoming intraday trading, if it settles above 1.1665 resistance, to target the critical resistance level at 1.1730.
The expected trading range is between 1.1630 support and 1.1730 resistance.
Today’s forecast: Bullish
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