BTC hit a Fib node at PCZ of harmonics pattern and reversed, we have strong and very mature Bullish Divergence on 4h timeframe on both MACD and RSI and daily candle is about to close as a bullish pinbar reversal. On smaller timeframes price successfully got above 50k support/resistance after breaking out of miniature ascending triangle reversal pattern on 15 min chart. Everything points to more upside in near future with 60k target on this long.
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BTC below 50k is not ideal but as long as it makes higher low and gets back above that range this could still play out potentially.
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Watch out for Bearish Divergence on 1h, if price stalls here we could see another move down. Again, look for higher low if that happens.