$BTC Liquidated Short: $166K at $99,190.60
A major short liquidation event just hit the market, with $166K in Bitcoin shorts wiped out at $99,190.60. This highlights the extreme volatility in play, and traders should be on high alert. Fast price swings are expected, and the market could shift direction quickly.
Next Moves:
1. Bitcoin ($BTC):
With the recent liquidation, $BTC is showing massive volatility. If the price holds support around $95,000, a retest of $100,000 is possible. Traders should monitor price action carefully for any signs of a breakout or a reversal. Tight stops and active management are key in these conditions.
2. Ethereum (ETH):
ETH may follow $BTC’s movements, though with a slight delay. If Bitcoin continues to rise, ETH could target $2,300. A drop in $BTC might bring ETH closer to $2,150. Keep an eye on BTC for signals of either continuation or a pullback.
3. Binance Coin
(BNB): BNB is showing strength and could push toward the $370 level if BTC stays bullish. However, a drop in BTC might lead BNB to find support around $340. Watch for a clean break above $350 for confirmation of a bullish move.
4. Ripple (XRP):
XRP could face a correction if Bitcoin consolidates. But if BTC breaks out, XRP may test the $0.55 resistance. Keep track of $BTC’s momentum to gauge potential movements in XRP.
5. Solana (SOL):
SOL continues to show bullish potential but is vulnerable to any dips in $BTC. Watch for a retest of $135 before considering further bullish moves. If Btc sees a pullback, SOL might face similar pressure.
Key Takeaway:
The recent Btc short liquidation demonstrates how quickly market conditions can change. Traders should stay prepared for sharp price movements, use proper risk management, and follow Btc closely for signs of the next major move in the market.