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BTC: $119K Long Liquidated at $117.4K — Short-Term Selling Pressure

I noticed a Bitcoin long worth $119K was liquidated at $117,414.10.

I view this as a sign of short-term selling pressure and elevated volatility around current price levels.

I'm watching to see if this sparks further stop-hunts or if buyers defend nearby support zones.

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Analysis

I interpret the liquidation as evidence of bearish momentum and potential stop-run activity; expect heightened volatility and tests of nearby support around the $117k area.

Recommendation

I'm not adding new longs now; I prefer to wait for confirmed support or consider buying on weakness with tight stops and position sizing, or hedging existing exposure.

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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