$PONKE here's a simple and clear breakdown for the next steps based on your query.
Current Situation.
Long Liquidation. $2,508.1K
Price: $0.33802
This indicates that there’s been significant liquidation of long positions around the $0.338 price level, suggesting a possible shift in market sentiment. It’s crucial to monitor price movement closely after such events.
Buy Zone.
The ideal buy zone would be where the price consolidates and shows signs of upward momentum after the liquidation. Based on the recent price level, the following zones are key.
First Buy Zone. Around $0.325 to $0.330. If the price reaches here and stabilizes, it might be a good entry point, as it shows potential support.
Second Buy Zone. $0.300 to $0.310. If the price dips further, this range could provide stronger support and higher chances of a bounce.
Target Price.
The target depends on the overall trend of the market, but the following levels are realistic based on recent trends:
Short Term Target. $0.375 to $0.380. This could be a good range for short term traders, as it represents the first resistance level after liquidation.
Long Term Target. $0.450 to $0.480. This higher target is based on previous price actions and could be a target for more patient traders.
Stop Loss.
Setting a stop loss is essential to limit losses if the market moves against your position.
Stop Loss 1. Place it just below the $0.300 mark to protect your position in case the market shows further downward momentum.
Stop Loss 2. If you’re entering at the first buy zone $0.325 - $0.330, you can set a stop loss around $0.290 for better risk management.
#PONKE #BitwiseBitcoinETF #CryptoRegulation2025 #BTCXmasOrDip? #XmasCryptoMiracles