$BNB Short Liquidation Alert.

In a stunning turn of events, shorts are getting absolutely wrecked.

A massive $2.91K worth of shorts have been liquidated at an astonishing price of $712. 96.

What does this mean for $BNB.

Short positions being liquidated means that traders who were betting on $BNB going lower have been forced to close their positions at a loss, adding buying pressure to the market.

This can lead to a short squeeze, pushing $BNB prices higher as liquidations continue. The more shorts get liquidated, the greater the upward momentum could become.

Technical Outlook:

Buy Zone: If you're looking to enter, keep an eye on any pullbacks around $700-$710 as a possible re-entry point for further gains.

Target Zone: In the event of a continued rally, $740 to $750 could be potential price targets, where sellers might step in to cap the upside.

Stop-Loss: Consider placing a stop-loss just below the key support at $680 to protect yourself from any sudden downside moves.

Key Takeaway:

The market is in an explosive state with shorts getting squeezed and buying pressure surging. If you’re riding the momentum, stay alert and manage your risk carefully.

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