BTC - 4H - Inverted H&S - $49000 Target - $1 billion short queez
BTC is currently moving sideways which means that it holds support at current price levels. On the 4H chart BTC is moving out of an inverted Head & Shoulders pattern found by the AI indicator All chart patterns. An indicator from Tradingview itself.
When BTC breaks through the red zone it will to back to $49000 according to the Smart Money concepts indicator, Fluidtrades indicator and All chart patterns indicator. So multiple indicators which are pretty accurate with their predictions show this possibility.
On the 1D time frame and 1W time frame BTC shows an Elliot wave 5 pattern which is also very bullish.
Plus the $1 Billion BTC short positions are on a brink of a short squeeze which could trigger a price outbreak back to $49000, because it's the next big resistance level.
When BTC breaks through the red zone it will to back to $49000 according to the Smart Money concepts indicator, Fluidtrades indicator and All chart patterns indicator. So multiple indicators which are pretty accurate with their predictions show this possibility.
On the 1D time frame and 1W time frame BTC shows an Elliot wave 5 pattern which is also very bullish.
Plus the $1 Billion BTC short positions are on a brink of a short squeeze which could trigger a price outbreak back to $49000, because it's the next big resistance level.