Bitcoin $118.6K short liquidation signals bullish squeeze
I note a $298K BTC short was liquidated at $118,645.20. I interpret this as a short squeeze that injected upside momentum into the market.
I see this as a near‑term bullish signal but one that raises volatility and the risk of a quick retracement.
I would consider a measured long — either a small entry now or buying on a pullback with a clear stop‑loss and position sizing to manage risk.
Analysis
Liquidation of a sizable short at ~118.6K implies forced short covering and added upward momentum; expect elevated volatility and watch volume, orderflow, and resistance around 120K for confirmation.
Recommendation
I recommend buying selectively: take a small position now or scale in on weakness, and use a tight stop below recent support to limit downside.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.