BTC Long Liquidated $299K at $117,343 — Short-Term Weakness
I observed a Bitcoin long position worth $299,000 liquidated at $117,343.40.
This sizable long liquidation suggests short-term selling pressure and increased volatility around that price point.
I will remain cautious, monitor price action and orderflow closely, and avoid initiating new large long positions until the market shows stable support.
Analysis
A $299K long liquidation at ~117.3K indicates forced selling and potential stop runs in the near term, increasing downside risk and market volatility until buyers re-establish conviction.
Recommendation
Watch price action and volume closely; tighten stops or reduce new long exposure and wait for confirmed support or a clean retest before scaling back in.
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.