Ethereum short liquidation at $4,547 — short-covering lifts price
I note that a $94.1K short position on Ethereum was liquidated at $4,547.92. This forced deleveraging likely removed bearish pressure around that level.
I view the liquidation as a near-term bullish signal, since it suggests short-covering and potential for further upside unless new selling appears.
Analysis
Recommendation
I recommend a cautious buy bias: consider entering on confirmed follow-through above the liquidation level or wait for a pullback to add position size, keeping stops in place given crypto volatility.
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.