Bitcoin (BTCUSD) has seen a slight upward movement in its recent intraday trading, reflecting the dominance of the main bullish trend in the short term. The cryptocurrency is currently trading near a bias line, benefiting from dynamic support due to its position above the 50-period Exponential Moving Average (EMA50).
However, despite the overall positive momentum, the Relative Strength Index (RSI) indicators have shown signs of weakening, with the latest gains showing signs of slowing down. These indicators have approached oversold levels, which, in comparison to Bitcoin’s current price movement, could signal the potential end of its recent positive momentum buildup.
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