It is apparent that there is still a lot more margin longs looking for the exit compared to the amount of shorts. It is also worth mentioning that the price broke down from the secret descending triangle and now we are seeing daily closes below it.
That's why a snap back would be so epic. All those shorts forcing to cover as they get their margin calls, cascading would drive the price up to heaven. Longs have relatively mush less effect in the event of another panic.