I didn’t take this short liquidation as a directional signal. Binance Futures $ZEC just liquidated about $163,000 in shorts, totaling 138.225 at an average execution price of 1,180.42. The current price is 1181.04, almost exactly at that execution price, while the 24-hour change is still -4.3%. The move up did clear some leverage, but it didn’t carry the price away. After the shakeout, price is still sitting in place, so I’m only counting it as a local short squeeze—not a bullish reversal. Next, I’ll watch whether the current price can move away from around 1180; only then will it make sense to talk about continuation.
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