BTC $372K Short Liquidation at $118,148 — Short Squeeze Suggests Bullish Pressure
I noticed a $372,000 Bitcoin short was liquidated at $118,148.10, which likely reflects a short squeeze that pushed price higher in the short term.
I view this as a sign of upward pressure but not definitive proof of a sustained trend — it's a single liquidity event that should be weighed against volume and nearby resistance levels.
I'm monitoring price action and liquidity; I won't base a full trade solely on this liquidation and will look for confirmation before increasing exposure.
Analysis
Recommendation
I'm not acting solely on this liquidation. I recommend watching for confirmation — consider small buys on pullbacks or wait for a sustained breakout and use tight risk controls if trading the move.
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.