The price of Bitcoin (BTCUSD) declined in its recent intraday trading, affected by breaking a bullish trend line on a short-term basis, representing negative signal that indicates losing the momentum of the last rise, accompanied by the continuation of the negative signals emerging on the (RSI), despite reaching oversold levels, indicating the dominance of the negative momentum on the price.

This decline came after breaking the support of EMA50, which increases the negative pressures and opens the way towards more of the downside movements on the near -term basis, unless it succeeded to regain this support or formed a new rising low that provides a chance to return the balance and rise again.