After a massive rally, Bitcoin (BTC) price could soon face a corresponding decline.

Bitcoin hit a new high above $52,000 after withstanding bearish pressure from the new CPI interest rate. With this, the token reclaimed its spot as a trillion-dollar asset that has made traders, bulls, whales, and institutions extremely optimistic about the impending trend. Despite a slight decrease in trading volume, the price is maintaining a healthy upward trend, suggesting that a BTC bull market may have begun.

Even amidst optimistic expectations, bearish attempts to limit the rebound cannot be ignored. Bearish strength can oscillate, but it tends to extract profits at frequent intervals. A similar possibility has emerged at moments when prices are nearing a downtrend, as technical experts get closer to flashing a ‘sell’ signal for the cryptocurrency.

a famous analyst Ali, which presents a daily chart of Bitcoin to substantiate the bearish argument. Analysts consider the TD sequential indicator used to identify trend exhaustion and price reversals. Currently, this indicator is sending a sell signal on the daily chart and predicts a correction in the future.

“Warning! TD Sequential displays a sell signal on the Bitcoin daily chart and expects a correction of 1 to 4 candlesticks per day. All buy and sell signals shown by this indicator since December 2023 have been validated.”

Currently, the Bitcoin price is on the rise and is expected to transition into a bull market soon. Because of this, the possibility of the price reaching above $53,000 could be bearish. Here, the BTC price may undergo a slight retracement, after which the bullish trend may reemerge.