$BTC
Right now the Bitcoin chart actually looks bullish (positive) — even if it doesn’t feel like it.
Here’s what is happening in simple words:
Market first removed buyers (long traders) sitting below the price
But it did NOT remove sellers (short traders) sitting above the price
👉 That means fuel is still left above the market
Why is this important?
Because markets usually move toward liquidity.
So if shorts are still above → price can later move up fast to liquidate them (short squeeze).
What could go wrong?
Technically the chart can still be seen as a bearish pattern (bear pennant).
If bears win → price could drop toward below $50K
BUT…
That area is a very strong long-term support zone, so a huge drop there is unlikely to sustain.
What to watch now
If Bitcoin holds current lows on daily close:
➡️ High chance of bounce
➡️ Move back to $70K+ zone possible
Simple summary
Longs liquidated below ✔️ (good for bulls)
Shorts still above ✔️ (future fuel)
Support holding = bullish
Losing support = temporary bearish
This is a setup — not a guarantee — but probability currently favors upside if support holds.