$WIF Long Liquidation Alert: $13,457K at $1.902 on.
What's Happening.
Massive long liquidation just hit $WIF with $13.457 million wiped out at the key price level of $1.9059. This signals significant volatility and intense bearish pressure in the market.
What Does This Mean.
Long Liquidation: Traders who bet on price increases were forced to close their positions, further driving the price down.
Impact on Price: With this liquidation, sellers dominate, indicating more downside momentum or a potential reversal if support holds.
Key Levels to Watch:
Resistance (Bearish Pressure): $2.05 – Watch for rejection here if a retracement occurs.
Support (Potential Reversal Zone): $1.85 – This could act as a bounce level if bulls regain strength.
Trading Strategy:
Bearish Play:
Entry: Around $1.90
Target: $1.85
Stop Loss: $1.95
Bullish Play (if price holds above $1.85):
Entry: $1.86 – $1.88
Target: $2.00 – $2.05
Stop Loss: Below $1.80
Market Sentiment:
Liquidations of this magnitude often shake retail traders, but they can also provide opportunities for smart money to accumulate positions.
Stay vigilant, and always trade with proper risk management.
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