Set aside your bullish bias and look at what the chart tells. BTC momentum is over until it finds a really really good support level. None of the supports near $50000 are holding up now.
Comment:
The price was strongly rejected around 47000. BTC won't be bullish short/medium term until it finds support around 52000 and makes a new high. Weakness around 52000 will push the price to 42000.
Trade closed: target reached:
BTC reached the target. I suspect there will be a short pullback to 50000 level then another selloff will drop the price to the 30000 level. The pattern looks more like a rounded top.