Massive Long Liquidation Alert.

$ARKM faced a long liquidation of $4,646.9 at the key level of $1.638.

This event signals significant market activity as leveraged long traders were forcefully closed at this price level, likely due to a sudden downward move in price. Here’s the breakdown:

What Happened.

1. Liquidation Explained:

A long liquidation occurs when traders betting on a price increase (long positions) face a decline in the asset's price, triggering forced closures of their positions.

The level of $1.66316 likely served as a stop-loss cascade, leading to high selling pressure.

2. Impact on $ARKM Market:

Liquidation of $4.6469K adds to the selling pressure, potentially causing further price dips.

Volatility around these events can also lead to liquidity grabs, trapping over-leveraged positions on both sides.

Key Levels to Watch for $ARKM:

Support Levels:

$1.60: A psychological level; a breach could signal more downside.

$1.50: Strong demand zone based on historical price action.

Resistance Levels:

$1.70: Immediate resistance; needs to break for bullish recovery.

$1.80: Stronger resistance; could signal trend reversal if breached.

Trading Strategy Suggestion.

For Bulls:

Look for a bounce around $1.60-$1.63 as a potential buy zone.

Targets: $1.70, $1.75.

Stop-loss: Below $1.58 for protection.

For Bears:

A breakdown below $1.60 could open shorts with targets at $1.50-$1.45.

Stop-loss: Above $1.65.

Stay sharp

Liquidations like these can trigger wild price swings. Watch the levels and trade cautiously. $ARKM is heating up!

#ARKM/USDT #BinanceAlphaAlert #Binance250Million #BitcoinInSwissReserves #USStateBuysBTC