$BR LIQUIDITY ALERT: THE SHORTS ARE TRAPPED
$BR just flushed the late longs and is now resting at 1.0601. If you are looking at the order books, the liquidation map is flashing a massive warning sign for the bears!
There is an absolute mountain of short liquidations sitting above us. The wall starts at 1.11 and peaks with a giant spike at 1.2207.
The market has a $1.2M+ incentive to squeeze price back up to clear those stops.
Downside Risk: Immediate long stops are thin, sitting at 1.0407 and 1.0167.
The flush to 1.06 cleared the board of weak hands. As long as the 1.04 level holds, this is a prime setup for a violent short squeeze straight into the 1.22 target.
Manage your risk and watch for the reversal to start!
#BR