Bitcoin (BTCUSD) declined during its latest intraday trading, affected by emerging negative signals from the relative strength indicators after reaching heavily overbought levels. The price has started searching for a higher low to use as a base for a new upward move, to gain the positive momentum needed to recover and resume its rise.

This comes after being previously influenced by breaking out of a downward corrective price channel, along with continued dynamic support from trading above its EMA50, which enhances the chances of recovery in the near term.