Bitcoin (BTCUSD) is attempting to offload its overbought conditions -Analysis-23-07-2025
AI Summary
- Bitcoin (BTCUSD) is facing resistance at $120,000, leading to a slight decline as it attempts to offload overbought conditions on the RSI
- Despite the decline, Bitcoin remains supported by trading above EMA50 and a bullish trend dominance, leaving potential for recovery and resuming the rise if resistance is breached
- BestTradingSignal.com offers high-accuracy trading signals for US stocks, crypto, forex, and VIP signals for various markets, with subscription options starting from €44/month
The price of Bitcoin (BTCUSD) declined slightly in its last intraday trading, affected by the stability of the main resistance level at $120,000, which obstacles the continuation of the rise, pushing the price to gather the gains of its previous rises temporarily, and attempts to offload some of the clear overbought conditions on the (RSI), with the appearance of negative overlapping signals that indicates the weakness of the current momentum.
Despite this decline, the price remains protected by significant supporting factors, the most important is its trading above EMA50, which represents a key dynamic support, besides the continuation of the main bullish trend dominance on the short-term basis alongside a bias line, leaving the way open for potential recovery and resuming the rise if it breaches the current resistance.
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Crude oil prices retest their current resistance-Analysis-23-07-2025
The (crude oil) price settled high in its last intraday trading, taking advantage of the emergence of the positive signals on the (RSI), after reaching oversold levels that helped it to offload this condition and achieve some temporary technical gains.
The price remains facing clear negative pressure, due to its stability below its EMA50, which forms a dynamic resistance that obstacles the continuation of the recovery, especially with retesting the current resistance at $65.60, keeping the bearish overview valid unless breaching this barrier clearly.
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Gold price is in a truce to catch its breath -Analysis-23-07-2025
The (Gold) price declined in its last intraday trading, in a natural correctional move to gather its previous gain, with the (RSI) reach to exaggerated oversold levels and the beginning of negative overlapping signs from them, indicating the possibility for the continuation of the pressure in the near-term basis.
Despite this decline, the bullish trend remains the dominant on the short-term basis, supported by the trading alongside a bullish bias, providing a chance for its recovery if the price gather its bullish momentum again, especially with the continuation of the positive pressure that comes from its trading above the EMA50, providing renewed positive momentum in the intraday levels.
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EURUSD declines, affected by its current resistance-Analysis-23-07-2025
The (EURUSD) declined in its last intraday trading, affected by the stability of the current resistance level at 1.1750, which pushed the price to gather its previous gains, in an attempt to catch its breath and regain the required positive momentum to breach the key resistance.
This decline was accompanied by the attempts to offload the clear overbought conditions on the (RSI), especially with the emergence of the negative signals, amid the continuation of the price affection by its previous breach to a bearish correctional trend line on the short-term basis, keeping the possibilities of the rise valid if the bullish momentum returns.
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Weekly performance report available here: Trading Signal Results – Week of July 14–18, 2025