Filecoin Shorts Wiped Out: $20.166K Liquidated at $5.139!
The market just delivered a crushing blow to bearish traders as $20.166K worth of Filecoin ($FIL ) shorts were liquidated at $5.139.
This sudden liquidation highlights increasing bullish pressure, forcing short-sellers to exit their positions under heavy losses.
Key Highlights:
1. Short Squeeze Alert: Liquidation of $20K+ signals intensified buying pressure.
2. Key Level Breached: The $5.139 level marks a breakout point, potentially setting up FIL for further upward momentum.
3. Market Sentiment Shifting: Bears are losing control as buyers dominate.
Suggested Next Move:
For Traders: Look for a confirmed breakout above $5.20 for potential long entries, with a stop-loss around $5.05 for risk management.
For Holders: Stay steady; this liquidation suggests momentum might carry $FIL higher.
Watch $5.50 as the next resistance.
For Bears: Exercise caution. Shorting now could be risky as momentum favors the bulls.
Consider waiting for signs of exhaustion before re-entering.
Filecoin could be gearing up for a major move—stay prepared!