What is the technical analysis indicating for BTCUSD in the short term?

The technical analysis for Bitcoin (BTCUSD) in the short term indicates a bearish outlook. Several indicators suggest that BTCUSD is likely to continue its downward trend:

1. **Bearish Patterns**: The formation of a 'orning star' candlestick pattern indicates a potential resumption of the downtrend, with key resistance at the $1.1600 level.
2. **Moving Averages**: The Relative Strength Index (RSI) has bounced off oversold territory but is currently closing in on its neutral line. A cross above 50 would confirm that buyers are in charge, but the current reading suggests that sellers are still dominating.
3. **Support and Resistance Levels**: The recent breakdown below the $3,300 mark and the formation of lower highs and lower lows suggest that BTCUSD is trending downwards. The 20-day Simple Moving Average (SMA) has been a resistance level, while the 100 SMA provides support, but the overall trend suggests a downward extension.
4. **Momentum Indicators**: The 14-day Relative Strength Index (RSI) has slid to near $40.00, which is considered a neutral level. A fresh bearish momentum would emerge if the RSI breaks below this level.
5. **Volume and Interest Rate Expectations**: The anticipation of the Federal Reserve's monetary policy decision has added pressure to the Bitcoin prices. The market is cautious and adjusting their expectations for interest rate cuts, which affects the price of Bitcoin.

In conclusion, the technical indicators for BTCUSD suggest a bearish trend in the short term, with potential for continued downward movement. Traders should exercise caution and consider these indicators when making trading decisions.