Large $298K BTC Short Liquidation at $118,645 — Bullish Short-Term Momentum
I observed a large BTC short liquidation of $298,000 executed at $118,645.20. This forced squeeze removed notable short exposure and created immediate upward pressure on price.
That said, the move may be driven by liquidations rather than fresh bullish conviction. I will watch volume and subsequent price action for confirmation before assuming a sustained trend change.
If momentum confirms, I prefer to buy on weakness or on a clean breakout rather than chasing the initial spike.
Analysis
Recommendation
Monitor order flow and volume for confirmation. If continuation appears, consider buying on weakness or on a confirmed breakout; avoid chasing the initial liquidation spike.
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.