Bitcoin Hangs On as Crude Oil and Gold Prices Take a Hit

Bitcoin (BTC) has managed to maintain its gains in late intraday sessions, attempting to take a breather and consolidate its recent advances. The cryptocurrency is trying to offload some of its overbought conditions on relative strength indicators, which have started showing negative signals.

This comes as Bitcoin continues to trade above the 50-day Exponential Moving Average (EMA50), with the main bullish trend still dominant in the short-term. Additionally, the price is supported by a supportive trend line for this path.

Meanwhile, crude oil prices have been declining in their latest intraday trading, breaking below EMA50's support and intensifying selling pressures. The negative signals from relative strength indicators suggest that limited technical rebounds are possible, but not enough to change the overall negative outlook unless it manages to trade above near-term resistance levels.

Gold prices were mixed during their late intraday trading, attempting to gain bullish momentum to breach the $4,100 resistance level. The price is supported by its trading above EMA50 and the dominance of the bullish corrective trend on the short-term basis.