Bitcoin faces fresh selling pressure after its largest accumulators reportedly switched sides, raising doubts over the prior buying strategy according to trader @simplykashif.

Price sits at $58966.14 inside the Bollinger Bands on the 4h chart, with the upper band at $60843.51 capping upside while the lower band at $58418.83 offers immediate support. The EMA50 at $60541.28 now acts as firm resistance above current levels, and the EMA200 at $65482.93 reinforces the broader bearish structure. MACD at -474.77 confirms the death cross, yet RSI at 41.49 leaves room before oversold territory. A rejection at the upper Bollinger Band combined with the neutral RSI suggests a probable retracement toward the 50-EMA before any sustained move lower or higher.