Bitcoin (BTCUSD) declined in its last intraday trading, after reaching the key resistance at $94,000, which stopped the previous recovery attempts. This weakness comes amid the continuation of the bearish trend dominance on the short-term basis, with its trading alongside minor trend line that reinforces this bearish trend, besides the renewed pressure due to its stability below its EMA50.

The negative signals appear clearly on the relative strength indicators by recording negative overlapping signals after reaching exaggerated overbought levels compared to the current move of the price, reinforcing the likelihoods of forming negative divergence that might push the price for more downside moves in the near period.