buy
Bitcoin Short Squeeze: $1.54M Liquidated at $118,365 Signals Near-Term Bullishness
I note a $1.54M short position in Bitcoin was liquidated at $118,365.30. That liquidation removes short-side pressure and likely reflects short covering at elevated prices.
I view this as a bullish micro-signal that can amplify near-term upside, though it is one data point within a larger trend.
I would watch follow-through volume and price action; if momentum continues, selectively add exposure while keeping risk controls in place.
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Analysis
A $1.54M short liquidation at ~118k indicates short-covering that reduces immediate downward pressure and can accelerate upside moves. The size is meaningful intraday but modest relative to BTC's mark...
Recommendation
Adopt a buy bias: consider initiating or adding positions on confirmed follow-through (higher volume and continued price strength), scale in, and use defined stops below recent support to limit downsi...
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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