Everything was set for an upward move based on data; all that was needed was a drop in oil prices, as its price had been correlated to suppress it. Then came the news of a potential U.S.-Iran agreement. They say they’ve reached an agreement, then hours later say they haven’t—though that’s a separate issue. Meanwhile, Bitcoin’s own momentum continues to improve. There are still excessive short positions, and many remain unchanged; if the price rises above $84K, they’re likely to start getting squeezed.
