The (Bitcoin) price settled downside in its last intraday trading, affected by the stability of the psychological resistance level at $110,000, which formed an obstacle against the extension of the bullish wave.

This comes with the emergence of the negative signals on the (RSI) after reaching overbought levels, as a signal for the price neediness for a temporary correction before resuming the rise.

The stability of the price above its EMA50 besides its trading alongside a minor bullish trend line on short-term basis might reinforce the chances of regaining positive momentum and breaching resistance.

Do you need help in trading decisions? Do you want to learn how to start trading?

Join Economies.com VIP Club and benefit from over 15 years of market analysis expertise and get:

Full coverage of commodities such as gold, oil, silver, and more Full coverage of all major forex currency pairs Full coverage of key global indices and stocks Full coverage of major cryptocurrencies and meme coins Accurate analysis and daily updated price forecasts Exclusive and breaking news Reliable trading ranges for effective risk management Comprehensive educational materials, competitions and prizes! Innovative tools to enhance your trading performance Special Offer: Subscribe to the Economies.com VIP channel and get also a free subscription to a trusted trading signals channel provided by Best Trading Signal.

Join VIP Channel Join Free Channel