ETH Short Liquidation at $4,630 Signals Short‑Covering
I noticed a $96.7K short on Ethereum was liquidated at $4,630.80, a clear short-covering event that likely added upward pressure at that level.
I view this as a short-term bullish signal but not definitive trend confirmation — it raises the odds of a near-term bounce while requiring confirmation from volume and broader market structure.
Analysis
Recommendation
I recommend a cautious buy bias: consider scaling in on strength or on a confirmed pullback, keep position sizes limited, and use stops below recent support to manage 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.