$MOVE Short Liquidation Alert

A short position worth $6,602.6 was liquidated at $1.15471, signaling a strong surge in buying momentum.

This event could drive further price action, creating opportunities for traders who act strategically

Let’s break it down and plan your next steps!

Market Insights

Short liquidations often lead to increased upward pressure as forced buybacks push the price higher. Here's what could happen next:

1. Continuation of the Uptrend: The price might rise further as momentum builds.

2. Short-Term Pullback: A small dip could occur, offering a better entry point before the uptrend resumes.

Key Levels to Watch

Buy Zone: $1.120 - $1.140

This range could act as a support area if the price retraces slightly. Look for bullish signals like strong green candles or increasing volume.

Target Levels:

Target 1: $1.180 (Immediate resistance)

Target 2: $1.220 (Strong resistance and potential breakout level)

Stop Loss: $1.100

Set your stop loss below the Buy Zone to protect your position in case the trend reverses unexpectedly.

Trading Strategy

1. Wait for Confirmation: Allow the price to approach the Buy Zone. Observe if it stabilizes or shows signs of strength.

2. Enter the Trade: If bullish momentum persists, consider entering a long position with your targets and stop loss in place.

3. Manage the Trade: Stick to your targets but trail your stop loss as the price rises to secure profits.

Risk Management

Always manage your risk. Never risk more than 1-2% of your trading capital on a single trade. This approach ensures you can withstand any unexpected moves.

Pro Tip

Monitor market sentiment and major cryptocurrencies like Bitcoin or Ethereum. If the broader market is bullish, MOVE could follow the trend and see sustained growth.

Patience and discipline are key. The market rewards those who wait for the perfect setup!

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