Yesterday I made a huge post on why I think that we're going to see a bullish reaction to tonight's FOMC meeting. During this meeting the FED will decide the interest rates, which will dictate the level of risk-taking in the crypto and stock markets.
Please check out my post below:
As seen on the chart, the Bitcoin shorts are seeing a decline since a couple of days. Shorts have an inverse relationship with the price. Less shorting means more bullish price action ahead.
With shorts being closed over the last couple of days, investors are positioning themselves more net-bullish since the BTC longs keep on rising.
Be aware that this is just one metric which tells a part of the story. Combine the knowledge in this analysis with my previous analysis posted above, and we can make a bullish case for the coming weeks.