$BTC Short Liquidation: $10.45K at $95,868.9 – What’s Coming Next?

A huge short liquidation just took place in Bitcoin, with $10.45K worth of positions getting liquidated at $95,868.9.

This sudden move indicates that traders who were betting on Bitcoin’s price to fall (short positions) had to buy back BTC, pushing the price higher.

This could signal a strong bullish move ahead, but let’s break down what you should be looking for.

What Does This Mean?

Potential for Price Surge: When short positions are liquidated, it often leads to a rapid price increase. This could lead to more buying as the market gets bullish.

Market Sentiment Shift: The liquidation might suggest that the market sentiment is changing from bearish to bullish, and more short sellers may be forced to cover their positions soon.

Buy Zone

Consider entering around $94,500 - $95,000. If BTC pulls back a bit before pushing higher, this range could be a good buy zone. Watch closely for any signs that the price is stabilizing after the initial surge.

Target

Your target could be around $98,000 - $100,000. As the bullish momentum builds from this short squeeze, Bitcoin could aim for these levels in the near future.

Stop Loss

Set a stop loss at $92,000. This protects you if the price drops unexpectedly, but gives enough room for the price to move in case of minor retracements.

Key Takeaways:

Momentum is Key: After such a large liquidation, BTC may continue to rise in the short term. Watch for any signs of resistance near $98,000 - $100,000.

Be Ready for Volatility: While the market may surge, it’s important to be ready for possible fluctuations. Always have a stop loss in place.

Short Squeeze Can Fuel the Move: More short positions could get squeezed if the rally continues, which can push the price even higher.

Reminder: This is not financial advice. Always conduct your own research (DYOR) and trade responsibly, considering your risk tolerance.

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