(BTCUSD) is experiencing a limited decline during its latest intraday trading, while holding its EMA50, which continues to act as dynamic support. At the same time, the price is consolidating around a main short-term bullish trend line, which helped it settle against recent selling pressure.
The chances of regaining positive momentum are increasing as a bullish divergence begins to form on the relative strength indicators, after reaching extremely oversold levels that appear excessive relative to the price action. Positive signals have also started to emerge, reinforcing the possibility of a price rebound and the resumption of the uptrend in the near term, as long as the price remains above the current support levels.
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