Bitcoin Eyes Bollinger Band Breakout After $136M Short Squeeze

Bitcoin's latest surge isn't just moving charts—it's liquidating positions. A sharp move toward a key technical resistance level has wiped out over $136 million in leveraged short bets, setting the stage for a potential volatility explosion.

The Squeeze Is On

When price action defies the crowded trade, the result is brutal and fast. Traders betting against Bitcoin's momentum just learned that lesson the hard way. The cascade of liquidations fuels the very move they hoped to profit from, creating a feedback loop that can propel prices higher.

Bollinger Bands in the Spotlight

All eyes are now on the upper Bollinger Band. This dynamic resistance line, which adapts to market volatility, represents the next major hurdle. A decisive close above it would signal a breakout from the recent consolidation, potentially inviting a fresh wave of bullish momentum.

What's Next for BTC?

The market has a habit of inflicting maximum pain on the majority. With a significant chunk of short-sellers cleared out, the path of least resistance may be upward. However, breaking through a key technical barrier requires sustained buying pressure—something that often falters just when the finance bros start high-fiving.

Watch the bands. A rejection here could see Bitcoin retreat to gather strength, while a clean breakout might just make the remaining shorts wish they'd stuck to traditional finance—where the only thing that gets squeezed is your 401(k).

Bitcoin shows potential for a breakout as $136M in short liquidations suggest a shift in market sentiment, with key resistance levels in focus. Notably, Bitcoin (BTC) has shown positive momentum over the past 24 hours, with a 2.4% increase pushing its value to $92,502.

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