The reason for this pump is simple: a huge number of short positions were liquidated.
After checking the liquidation data, I noticed millions of dollars were wiped out around the $0.11-$0.12 zone. That short squeeze helped fuel the move higher.
In my view, there could still be larger liquidity pools sitting above the current price. If you're thinking about shorting $AKE
, stay cautious.
Markets often push higher to hunt remaining short liquidations before making their next major move.
#AKE #Crypto #trading #Altcoins #BinanceSquare
After checking the liquidation data, I noticed millions of dollars were wiped out around the $0.11-$0.12 zone. That short squeeze helped fuel the move higher.
In my view, there could still be larger liquidity pools sitting above the current price. If you're thinking about shorting $AKE
, stay cautious.
Markets often push higher to hunt remaining short liquidations before making their next major move.
#AKE #Crypto #trading #Altcoins #BinanceSquare
