#BITCOIN SE STABILIZES AFTER SHARP DROP WITH INCREASING RISKS OF SHORT SQUEEZE 🤑➡️$BTC
Bitcoin stabilized around $91,900 on November 20 after a 30% drop from its October high, with technical signals suggesting that seller fatigue may be setting the stage for a potential short squeeze.
The cryptocurrency fell to as low as $88,522 earlier this week, wiping out most of its gains from 2025 and causing extreme fear in the market. However, consecutive daily candles with long lower wicks—a classic pattern indicating failed attempts by bears to push prices lower—emerged along with oversold readings on the 14-day relative strength index, according to analysis from CoinDesk.
"These clues appeared in the form of consecutive daily candles with long lower wicks, signaling the failure of bears to keep prices below $90,000," wrote analyst Omkar Godbole. "Along with the RSI in oversold territory, it seems that the downtrend may be losing steam."
The timing coincides with a shift in market positioning. Data from Binance shows 52.94% of perpetual futures held in short compared to 47.06% in long, creating conditions where a rally could trigger forced liquidations among pessimistic traders. Over $1 billion in leveraged positions have already been wiped out during the recent liquidation.
