Shorts Liquidated $295K at $117,576 — Watch for Short-Squeeze Follow-Through
I see a $295K short liquidation in BTC executed at $117,576 — a classic short-covering move that can add near-term upward momentum.
While this size is small relative to BTC market liquidity, the liquidation points to short-squeeze dynamics and increased buyer interest around that price area.
I’m watching for follow-through: sustained price and volume above the $117k–118k zone before committing more capital, and I’ll avoid chasing spikes without confirmation.
Analysis
Recommendation
I recommend watching price and volume for confirmation above $117k–118k; consider buying on a measured dip or after consolidation rather than chasing the spike, and use tight stops 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.