ETH Short Liquidation at $4,471 Indicates Short-Term Bullish Pressure
I noted a short liquidation in Ethereum totaling $63.8K executed at $4,471.10.
That liquidation likely removed some bearish pressure and can produce short-term upward momentum or a short squeeze if follow-through volume appears.
I will monitor price action and volume for confirmation and prefer to scale into longs or buy on a pullback rather than chase an immediate breakout.
Analysis
Recommendation
I lean to initiate a measured long or buy on weakness around key support; wait for volume confirmation if considering chasing 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.