$PNUT Short Liquidation Alert! 🚨
A massive $5.53K PNUT short liquidation just shook the market at $0.6677, triggering a dramatic reversal as short positions get squeezed! With this unexpected turn, the bulls are charging, and momentum is shifting fast.
💡 What This Means for the Market:
Short Squeeze in Full Effect: Such a large short liquidation can cause a rapid price surge as shorters are forced to cover.
Watch for Continuation: If $0.67 holds as support, we might see further upward movement toward $0.70 or even higher.
Potential for Volatility: Keep an eye on volume spikes and sudden price action as this short squeeze plays out.
🔥 Trader Tips for Riding the Wave:
1. Ride the Momentum: With short squeezes, the momentum can last for a while—look for breakout patterns.
2. Key Levels: Focus on $0.65 as a potential support zone, while $0.70 serves as resistance.
3. Risk Management: Don't chase price movements too aggressively—set reasonable stop-losses and take profits at key levels.
⚡ Will the short squeeze continue or will bears step back in? Drop your analysis and trading strategies below!