BTC is hovering near the critical $66K resistance, and the setup is getting increasingly interesting.
๐ Around $343M in short positions are reportedly exposed across the $64Kโ$66K zone.
Now imagine BTC breaks and holds above $66Kโฆ
๐ฅ Shorts start getting liquidated
๐ฅ Forced buying kicks in
๐ฅ Momentum accelerates
๐ฅ More shorts get trapped
The recent CPI data could become the catalyst. A softer inflation environment may bring fresh risk appetite and give Bitcoin the push it needs.
But thereโs one key condition:
BTC needs a clean breakout above $66K with strong volume.
If that happens, the current bearish positioning could turn into fuel for a powerful upside move. ๐
๐ Bear trap or another rejection?
The $66K level is where things could get VERY interesting.
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