Bitcoin Tests Cloud Support as Ethereum's Macro Trend Turns Bearish

Bitcoin's recent price action has raised some cautionary flags for traders. On August 12, 2026, Bitcoin briefly broke through short-term support and traded below its daily Cloud, but did not settle at that level. This is being viewed as a preliminary warning of a possible future close under the Cloud.

The Relative Strength Index (RSI) failed to register a fresh local trough, although it's anticipated that one will eventually occur. Keeping RSI away from 25 or oversold readings would leave room for additional downside. The On Balance Volume (OBV) moving-average line has turned downward again, reinforcing a bearish tilt.

Ethereum, on the other hand, ended August 12 higher and continues its bullish consolidation within the daily Cloud. However, cautionary signals are also present: the daily Slow line is starting to slope down, hinting that the macro trend is turning bearish, while the OBV moving-average line resembles the crest of a rollercoaster.