Posteo

Everyone is trying to front-run the same $BTC breakout at $67K. Cumulative net longs are now approaching +$500M, the highest reading BTC has recorded around this price throughout the entire range. Positioning is significantly more long than the last time $BTC traded here, and price still hasn’t reached range resistance. Maybe they’re right. But if the breakout fails, the market is left with the largest concentration of trapped longs we’ve seen at this point in the range. Another rejection from range resistance would likely force that exposure to unwind back through the range. #DailyOrbit