Bitcoin Price Prediction: BTC bears await confirmation to recall sub-$50,000 levels

Bitcoin bulls seem tiring as the quote wavers around $57,750 during early Monday. In doing so, the cryptocurrency major teases a bearish chart formation, rising wedge, which becomes critical to follow, if confirmed, near the top.

Not only the rising wedge but MACD weakness also suggests BTC/USD traders stay cautious before taking any long entries.

However, a daily closing below $56,280 becomes necessary for the Bitcoin sellers to retake controls, which highlights the theoretical target surrounding $36,000.

It should be noted though that the estimated fall below $56,280 towards $36,000 can pause around a short-term rising support line, at $51,843 now, as well as the late February lows near $43,000.

On the contrary, corrective pullback needs to cross the $60,000 psychological hurdle before challenging the recently flashed record top around $61,800.

Overall, BTC/USD is up for witnessing a pullback but sellers wait for a clear vision.

BTC/USD daily chart.