Despite a 15% Rise, Bitcoin (BTC) Price is Poised for Another Downfall! Here’s Why You Need to be Careful

Will the Bitcoin (BTC) price offer another buying opportunity below $50,000? If yes, will it trigger a similar rebound within a restricted timeframe?

The recent rebound has turned market participants favourable to the upcoming trend, who are speculating that the crypto will hit $60,000 with the next bullish move. However, the institutions do not appear to be confident of the upcoming trend, as, after a small inflow of $50.4 million on the first day of the month, the platform witnessed massive outflows of $237.4 million, $168.4 million, & $145.6 million in the last four days. 

Although institutions are not bullish, whales appear to be confident of the upcoming trend as they have been constantly accumulating BTC. 

So what’s next with the BTC price?

The BTC price rally is about to undergo a ‘death cross’ in the next few days. The recent pullback has advanced the event which appears to have validated a fresh bearish action soon. Therefore, the next couple of days are expected to be extremely important for the token as the death cross is expected to drag the levels back below $50,000. Moreover, after triggering a rebound, the RSI has diverted from an elevated trend. Hence, flashing bearish signals for the upcoming price action. 

Therefore, the bulls are required to defend the support in the next few days, which may invalidate the bearish scenario for the Bitcoin (BTC) price rally.