Bitcoin (BTCUSD) fluctuated in its last intraday level, amid the continuation of the cautiousness in the markets, and the selling pressure is the key factor in detecting the short-term trend.
The trading remains below EMA50, which is acting as dynamic resistance and limits the chances of sustainable recovery, accompanied by the trading alongside bearish trend line that reinforces the stability of the main bearish trend, with the negative signals from the relative strength indicators that indicates the weakness of the buying momentum, which keeps possibility of continuing the selling pressure and recording downside moves in the near term, unless the price managed to breach key technical levels.
Crude oil prices rose slightly in its last intraday trading, in attempt to recover part of its previous losses, and attempts to offload some of its oversold conditions on the relative strength indicators, especially with the beginning of the positive signals from them.
this comes amid the continuation of the negative pressure that come from its trading below EMA50, reducing the chances of sustainable recovery in the near period, especially with the dominance of the main bearish trend on the short-term basis.
Silver declined in recent intraday trading as selling pressure continued to dominate its move, and the technical outlook remains negative, where the metal still unable to regain positive momentum.
The decline comes as the relative strength indicators begin to show a bearish crossover after reaching extremely overbought levels, suggesting the early formation of a bearish divergence that adds to downside pressure. The EMA50 continues to act as dynamic resistance, while price remains moving alongside supportive trend line for the short-term bearish trend, keeping the likelihoods of recording more losses valid.
Gold declined during its latest intraday trading, as selling pressure continued to dominate price action, as it remains below EMA50, which represents dynamic resistance that reinforces the dominance of the short-term bearish trend.
Meanwhile, the relative strength indicators began to form a bearish divergence after reaching extremely overbought levels, accompanied by a bearish crossover, signaling weakening bullish momentum and increasing the likelihood of a renewed wave of selling pressure. These technical factors support the negative outlook and suggest that further losses remain likely in the near term.