Most people I know chooses to short bitcoin right now because it shows weakness. Most of my post are about elliot wave. And off course I know technically it seems that the A wave is not even complete and we should go to the 40k level. But on the other side, an Elliot wave also has a time component and often composed of smaller ABC form. The first big red candle was too fast of a time for even the A correction. In fact the whole A move is still kind of 6 days short, which means that an inverse Simpson Head toward the 49.5-48.5k to liquidate the shorts is a very likely option with the bullish divergence in the smaller time frame starting to accumulate