Bitcoin (BTCUSD) declined during its latest intraday trading sessions, breaking below the current support level at $77,000. The cryptocurrency remains under pressure from a short-term corrective bearish wave, following an earlier break below a major upward trendline.

Negative and dynamic pressure continues as the price trades below the EMA50, reducing the chances of a full recovery in the near term. This comes alongside ongoing negative signals from the relative strength indicators, despite them reaching deeply oversold levels.