yes, the recent price decline could be a sign that bitcoin will soon enter a bearish phase, but I think the recent price decline is a reasonable price decline and the price decline is the impact of price increases that have occurred since the beginning of the year. now the bitcoin price is slowly recovering and the bitcoin price is now back above $50k, i hope this condition will continue and there will be no more bull traps.
How much time is "Soon" for you? 1 week? 1 month? 2 months? 1 year? The word soon is very broad term when it comes to Bitcoin and its price movement so at least say a specific time frame.
Well, many are saying that we might enter the bear market phase possible next year. The recent price decline is cause maybe by the investors taking out profit and liquidations that caused the market to go down even further. Unfortunately, Bitcoin is at $48,000 right now which is the 34 Weekly MA right now. The 21 and 34 Weekly MA is a strong support and if Bitcoin goes down below these lines and closes below it then we might see further downside pressure.