ETH Short Liquidation at $4,449 Signals Short-Term Bullish Momentum
I note a $178,000 short on ETH was liquidated at $4,449.34, which likely removed some immediate selling pressure and created short-covering momentum.
I view this as a bullish micro-event that may fuel short-term upside if buyers follow through, but I am watching for confirmation and possible retracement.
Analysis
Recommendation
I recommend a cautious buy stance: consider initiating or adding a position on confirmed follow-through or on a shallow pullback, and use a tight stop below recent support to limit downside risk.
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.