The price of Bitcoin (BTCUSD) settled low in its last intraday trading, amid cautious attempts to gain a positive momentum that supports its recovery and resuming the bullish trend, this comes amid its attempt to offload its clear overbought conditions on the (RSI), that begin showing negative signals that might limit any potential rise.

Despite these pressures, the price remains supported by its trading above EMA50, besides the dominance of the main bullish trend on the short-term basis, with its continuation to move alongside a supportive bias line.

Therefore, our bullish scenario remains valid for the (BTCUSD) price in the upcoming intraday sessions, conditioned by the stability of the support at $116,500, targeting the current resistance levels at $120,000 preparing to attack it.

The expected trading range is between $116,500 support and $121,000 resistance.

Todays forecast: Bullish