The price of Bitcoin (BTCUSD) rose in its last intraday trading, supported by the stability of the critical support at $116,500, providing bullish momentum that assisted it to achieve limited gains, this positive trading amid the main bullish trend dominance on the short-term basis, with the continuation of its trading alongside a supportive bias line, besides the beginning of forming a positive overlapping signals on the (RSI), reinforcing the chances for the continuation of the rise on the near-term basis.

Despite these bullish signals, the price remains facing technical pressures that come from its stability below EMA50, forming an obstacle against the quick recovery attempts, and weakens the ability to target higher resistance levels without breaching this level.