🟢 Huge Liquidation Alert: $56.7K Short Liquidated at $94,925.41 for $BTC
The Bitcoin market just witnessed a major short liquidation as a $56.7K position was wiped out at a whopping $94,925.41.
This suggests that bullish momentum is overpowering bearish attempts, pushing prices higher.
What’s Happening?
Market Momentum: A short squeeze like this often indicates strong buying pressure, forcing sellers to close positions at a loss.
Price Action: Such liquidations can trigger a wave of optimism, leading to further upward movement.
1. Resistance to Watch:
$95,500 - A breakout above this level could open the gates for $96,000 or higher.
2. Support to Monitor:
$93,500 - If prices pull back, this level could act as a springboard for another rally.
3. Market Sentiment:
Bullish momentum seems dominant, but overbought conditions could lead to a minor correction before resuming the uptrend.
My Opinion
For Bulls: Look for a consolidation near $95,000. A breakout could lead to a strong rally; keep a tight stop-loss just below $93,500.
For Bears: Stay cautious. Enter only if Bitcoin fails to break $95,500 and shows signs of weakness.
The market looks exciting—prepare for action and trade smart!
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