It's the wire that runs from the bulkhead connector to the coil positive. Yes, you can disconnect it at the coil and fold it back and tape/tie it back, and disconnect it at the bulkhead connector and tape/tie it back, then install a new non-resistor wire along the bundle and wrap it in.

See the pink with a black stripe from "K" to coil. http://thefirstgensite.com/library/electrical/68wir/68wir2.html

You could also grab your 12v from other sources. This is just the way I do it.