The price of Bitcoin (BTCUSD) declined in its last intraday trading, affected by the emergence of the negative signals from the (RSI), in attempt to offload the clear overbought conditions on its previous moves, despite this intraday pressure, the price remains looking for a chance to gain positive momentum to reinforce its recovery attempts and rising again.

The price is taking advantage of its dynamic support due to its stability above EMA50, besides its previous breach to main bearish trend line on the short-term basis, providing solid base that might open the way for recovery and achieving a new rise in the near-term basis.

Therefore, our expectations suggest a rise in (BTCUSD) price in the upcoming intraday trading, if the support settles at $110,000, to target the critical resistance level at $113,000 preparing to attack it.

The expected trading range is between $110,000 support and $114,500 resistance.

Todays forecast: Bullish

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