$1.54M BTC Short Liquidation at $118,365 — Short Squeeze Momentum
I note a $1.54M short liquidation in BTC executed at $118,365.30. This large forced buyback suggests short-covering and upward intraday pressure around that price.
I view the event as a bullish micro-structure signal: it can accelerate momentum and lift price toward nearby resistance levels if followed by volume.
I'm cautious about treating one liquidation as a trend change — confirm with sustained volume, follow-through above key resistances, and manage risk with defined exits.
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Disclaimer
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