Bitcoin (BTCUSD) declined during recent intraday trading after failing to breach the key resistance at $77,500, which renewed bearish pressure and pushed the price lower again, especially as it continues to trade below EMA50, reflecting weak bullish momentum.
The decline comes as the short-term corrective bearish trend remains dominant, alongside continued negative signals from the relative strength indicators despite reaching deeply oversold levels, suggesting the possibility of further downside unless strong reversal signals appear.
Crude oil prices declined in recent intraday trading amid growing negative pressure, as clear bearish signals started to appear on the relative strength indicators after reaching heavily overbought levels compared to price action. This led to the formation of a negative divergence, increasing the likelihood of continued selling pressure in the near term.
Oil also remains affected by the break below a key short-term bullish trend line, while continuing to trade under EMA50, making a full recovery more difficult for now and keeping the bearish technical outlook dominant unless stronger reversal signals emerge.
Silver prices moved higher during recent intraday trading and are now preparing to test the key resistance level at $78.35, supported by improving technical momentum after positive signals emerged from the relative strength indicators, especially following the formation of a positive divergence that helped the metal achieve consecutive gains recently.
Silver has also partially reduced the negative pressure caused by trading below EMA50, increasing the chances of continued upside movement, particularly as the main short-term trend remains bullish and price continues to move along a supportive upward slope.
Gold prices rose in recent intraday trading, supported by the formation of a positive divergence on the relative strength indicators after reaching deeply oversold levels compared to price action, which improved momentum and generated positive signals supporting the current recovery attempts.
Despite the rise, gold faced resistance at EMA50, limiting the ability of heading higher, with the continuation of moving alongside a short-term bearish trend line. This keeps the technical outlook unclear until stronger signals emerge to confirm the next direction.