Market Update: $ME Short Liquidation 🚀

A short liquidation of $10.079K occurred at a price of $3.71877, indicating strong buying momentum. This suggests potential for upward movement. Here’s the full analysis for your trading plan:

Next Move Analysis

Buy Zone:

$3.65 to $3.75

Look for dips into this range for potential entries. This zone offers a good risk-reward ratio for buyers.

Targets:

Target 1: $3.85 (Short-term resistance)

Target 2: $4.00 (Psychological level)

Target 3: $4.25 (Major resistance zone)

Stop Loss:

$3.58

Place a stop loss below the lower support zone to manage risk.

Technical Indicators to Watch

RSI: If RSI crosses above 50, it confirms bullish momentum.

Volume: A spike in volume around the buy zone signals strong demand.

MACD: Look for bullish crossover to validate upward movement.

Trading Strategy:

1. Enter Buy Position:

Wait for a slight pullback into the Buy Zone ($3.65 - $3.75).

2. Monitor Momentum:

If price holds above $3.75 with strong volume, it’s a positive sign.

3. Adjust Targets:

Scale out profits at each target level to lock in gains.

4. Stay Disciplined:

Stick to your stop loss to minimize losses if the market reverses.

Market Sentiment:

With a short liquidation, buyers are currently in control. Stay alert for any major news or market updates that could shift momentum.

Disclaimer: This is for informational purposes only and not financial advice. Always do your own research and trade responsibly.

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