$BTC Bitcoin Short Squeeze at $50.3K – What’s Next?

Bitcoin just witnessed a significant liquidation of short positions at $50,300, totaling $99,528,100. This strong move indicates intense market volatility and a potential shift in momentum.

What This Means:

$BTC A liquidation of this scale suggests that bearish traders were caught off guard, forcing a surge in buy orders as positions were closed. With this, BTC could either continue its rally or face strong resistance at key levels.

Key Levels to Watch:

>Resistance: If Bitcoin sustains above $50,300, the next major hurdle sits around $51,000 - $52,500. A breakout could accelerate bullish momentum.
>Support: On the downside, $49,500 - $49,000 serves as immediate support. A break below could lead to a correction.

Potential Next Move:

If buying pressure remains strong, Bitcoin could attempt another leg up toward $52K+. However, if rejection occurs, a pullback toward $49K is possible before any further uptrend. Watch for volume confirmation before making moves.

Stay cautious and manage risk effectively in this highly volatile phase!

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