$ORDI Liquidated Long: $155K at $25.34
A massive long position in ORDI has just been liquidated, with $155,000 at the price of $25.34.
This sharp decline has rattled traders, sending ripples through the market and sparking widespread liquidation.
Key Details:
Liquidated Long Position: $155,000
Price at Liquidation: $25.34
Immediate Market Impact: Potential for continued downward pressure as positions are liquidated, creating uncertainty for bulls.
Next Move:
Watch for a potential test of lower support levels. The $25 mark is crucial; a break below this could trigger further sell-offs.
If
$ORDI stabilizes around $24.50, there may be a chance for a bounce back, but any failure to hold that level could lead to deeper declines.
Look for signs of volume drying up, which could signal a reversal or consolidation before the next major move.
Stop Loss:
For long positions, place your stop loss just below $24 to protect against further downside.
If shorting, a stop loss above $26 would help manage risk in case of a sudden reversal.
Stay focused and be ready to adapt as market conditions evolve.
$ORDI #ORDI #BinanceAlphaAlert #BTC