$BTC Liquidated Short: $85.2K at $106,779.30
What Happened?
A short position worth $85.2K on Bitcoin (BTC) was liquidated at $106,779.30.
This shows strong buying momentum, forcing short traders to close positions with losses.
What’s Next?
1. Price Movement:
BTC holding above $106,700 signals continued strength.
Next target: $107,500 – $108,000 (key resistance zone).
Support level: If rejected, watch for a pullback to $105,500.
2. Market Sentiment:
Short liquidations create a "short squeeze", pushing prices up further.
Growing bullish sentiment could attract more buyers.
3. Key Signals to Watch:
Volume: Rising buying volume confirms strength.
RSI: If overbought, BTC could consolidate or slightly pull back.
4. Trade Ideas:
Long Strategy: Look for entry above $106,800 for next breakout.
Short Strategy: Only consider shorting if BTC dips below $105,500.
Why This Matters:
Short liquidations can lead to sharp price jumps as sellers exit. Watching these levels helps catch profitable opportunities early.
Stay alert—BTC is showing signs of strength! 🚀
