Massive $DOT Short Liquidation: $58.2K Wiped Out at $7.187! Bulls Dominate the Field!
The dot market has erupted with a staggering $58.2K in short positions liquidated at the critical price level of $7.187.
This large-scale shakeout highlights an overwhelming surge in bullish momentum and a potential breakout scenario for $DOT.
What’s Driving This Move?
Short Squeeze: Bearish traders faced a wipeout as dot powered through key resistance at $7.187.
Market Momentum: A liquidation of this magnitude points to significant buy-side pressure, likely from institutional players or large-scale whales.
Breakout Alert: $7.187 was a critical level—its breach could signal the start of a strong upward trend.
Next Moves to Watch:
1. For Traders:
Upside Potential: Look for $DOT to test higher resistance zones near $7.25–$7.35 in the short term.
Pullback Entry: Monitor for a possible retest of $7.187 as support before entering new positions.
2. For Investors:
This liquidation could mark the beginning of a bullish rally.
Consider gradual accumulation on dips, especially if dot holds above $7.187.
Keep an eye on macro resistance near $7.50, which could serve as a key breakout level.
3. Risk Management:
Beware of short-term volatility—liquidations at this scale often trigger both profit-taking and market speculation.
Stay vigilant for signs of exhaustion or bearish divergence in the price action.
$DOT is making big moves, and the bulls are in control.
Will this momentum carry the token to new highs, or will resistance push back? Watch closely and trade smart!