🔥 $HYPE Could Be Setting Up for a Short Squeeze
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HYPE is currently trading near $66.7, with liquidation pressure favoring the upside.
📈 Short Liquidations Above: ~$20M 📉 Long Liquidations Below: ~$45M
Although there are more long liquidations below, the nearest cluster sits above current price.
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If buyers push through nearby resistance, short positions could unwind quickly, creating a fast move higher.
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As always, liquidation maps show where leverage is concentrated—not where price must go...
Bitcoin briefly traded above $65,000 within the last 12 hours.
It's pulled back since, but that's not what I'm focused on.
The important thing is that $64,000 has finally been reclaimed after acting as resistance for over a week.
If bulls can keep defending this level, I think $65,700 is the obvious next target.
Lose $64,000 again, though, and I'd expect Bitcoin to drift back towards $63,000.
For me, everything comes down to whether this reclaim holds.