don't buy

Bitcoin Long Liquidation Signals Short-Term Pressure

I saw a reported Bitcoin long liquidation of $63.7K executed at $117,441.60. That suggests an overleveraged long was force-closed and a sharp rejection occurred near that price.

I view this as a short-term bearish signal and a reminder of heightened volatility around that level. I would be cautious and look for clear signs of support before re-entering long positions.

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Analysis

A sizeable long liquidation implies leverage unwind and potential stop cascades, increasing the chance of further downside or oscillation until bids absorb selling. Watch volume, funding rates and nea...

Recommendation

I recommend not buying right now and waiting for consolidation or confirmed support. If already exposed, trim risk or use protective stops to manage potential further drawdown.

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.

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