BTC may dip once more before the next major rally begins

At the moment, BTC has formed a new low and failed to create a new higher high (HH), indicating that bearish momentum is still dominating the market.

The current rebound may serve more as a potential entry opportunity for short positions rather than long positions.

Price could decline to retest — or even break below — the previous low in order to form a divergence before a larger bullish reversal unfolds in the higher timeframe structure.