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BTC

Bitcoin short liquidation signals short-term bullish momentum

I note a $298K BTC short was liquidated at $118,645.20.

I view this forced-covering as a bullish micro-event that can create short-term upward momentum through buy pressure and squeezed shorts.

I will watch volume and nearby resistance for confirmation; if follow-through appears, I favor a long bias while managing risk on pullbacks.

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Analysis

Liquidation of a large short injects buy pressure and can force further short-covering, reducing immediate bearish supply. Confirming higher volume and break of nearby resistance would support continu...

Recommendation

I'm inclined to take a cautiously bullish stance: consider buying on confirmed follow-through or scaling in on a controlled pullback, with stops under key support levels 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.

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