Bitcoin (BTCUSD) retests critical resistance -Analysis-04-08-2025
AI Summary
- Bitcoin (BTCUSD) retested critical resistance level at $114,500 in last intraday trading
- Bearish correctional trend remains dominant on short-term basis, with selling pressures indicated
- RSI indicators show bearish signals, potential for bearish divergence and return to negative track
The price of Bitcoin (BTCUSD) expanded its cautious gains in its last intraday trading, in attempt to recover some of its previous losses to test the critical resistance level at $114,500, and the bearish correctional trend remains the dominant on the short-term basis, with the continuation of its trading alongside a bias line that indicates the selling pressures, and the negative pressure that comes from the stability of the price below its EMA50 remains valid, which reinforces the weakness of the current positive move.
The (RSI) indicators show clear bearish signals after reaching exaggerated overbought levels compared to the price move, with the beginning of forming negative overlapping signa that might support forming a bearish divergence, which might increase the possibility of facing new pressure wave that pushes it to return to the negative track.
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Crude oil prices break a significant support-Analysis-04-08-2025
The (crude oil) price kept declining in its last intraday trading, affected by a negative technical formation that has formed previously on the intraday levels, which is represented by the head and shoulders pattern, this decline was accompanied by its exit from minor bullish channel’s range that limited its move on the short-term basis, which increased the strength of the selling pressures.
This decline led to breaking the support of its EMA50, which increased the negative pressures on the price in the near-term basis, and increased the possibilities for the bearish trend continuation unless regaining the positive momentum quickly.
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Gold price is in a truce to catch breath -Analysis-04-08-2025
The (Gold) price declined in its last intraday trading, to gather the gains of its previous rises and attempts to gain positive momentum that might support its recovery and rise again, the price attempts to offload the clear overbought conditions on the (RSI), especially with the beginning of negative overlapping signals emergence, indicating the neediness of more calm trading before resuming the bullish track.
The price took advantage of its dynamic support that comes from its trading above its EMA50, besides its affection by its exit from a sharp bearish channel range on a short-term basis, reinforcing the expected positive scenario.
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EURUSD shrinks its early gains-Analysis-04-08-2025
The (EURUSD) moved with slight rise in its last intraday trading, after it failed to keep the early gains, affected by the stability of the strong resistance at 1.1575, where the negative pressure remains valid by the trading below its EMA50, at the same time it attempts to gain positive momentum to breach the resistance and get rid of the surrounded selling pressures.
The pair is attempting to offload some of its clear overbought conditions on the (RSI), especially with the beginning of a negative overlapping signal appearance, amid the dominance of the minor bullish wave on its intraday trading, which might provide a chance for the rise unless they surpass the mentioned resistance.
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