BTC at this level still has a lot of people shorting it—especially retail traders. From their perspective, there’s only one reason: it’s a bear market, so I only short.

Just wait for BTC to rise to 68,000, and they won’t think it’s a bear market anymore, because everyone will be watching the bull market. You’ll always be led by the nose by the whales. This level was the accumulation zone when it previously dropped from 98,000 to 60,000.
I like to trade by watching market sentiment. At 64,000 and 65,000, many people are shorting it. Only after it gets close to 68,000 will they be willing to cut losses and look bullish. Once it reaches this point, it will repeatedly shake the market upward—jabbing upward with wicks—to wash out the first batch of “air force” (short sellers) that entered.
BTC’s 68,000–70,000 is a key area. It will give you the illusion that the bear market bottom is at 58,000—like if you don’t bottom-fish, you’ll miss your only chance… until there are enough bullish chips.