Ethereum short liquidation at $4,469 sparks bullish momentum
I noticed a $179K short position on Ethereum was liquidated at $4,469.41.
I view this as short-covering that can create near-term bullish momentum, especially if volume confirms the move and price breaks immediate resistance.
I remain cautious: a single liquidation doesn't guarantee a sustained rally, so I would size positions conservatively and use stops.
Analysis
Recommendation
I'm inclined to buy on confirmation of sustained buying or on a disciplined pullback; size positions modestly and set tight risk controls given the possibility of a transient squeeze.
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.