Massive liquidation event just hit — $350M in short positions wiped out in the past hour alone.
This is textbook short squeeze mechanics playing out in real time. When leverage gets too concentrated on one side and price moves against it, the forced liquidations cascade. Shorts get margin called, they're forced to buy back to close positions, which pushes price higher, which triggers more liquidations, which forces more buying.
The bears betting against the rally just got absolutely wrecked....
$BTC LONG
ENTRY — 66,000–66,500
TP1 — 67,000
TP2 — 68,000
TP3 — 69,000
STOP LOSS — 64,800
BTC has broken above the 65,000 resistance with strong 4H momentum. Holding above 66,000 keeps the bullish breakout structure active toward the higher targets.
Trade Here On $BTC
{future}(BTCUSDT)