$ME Long Liquidation Alert
A long position worth $9.66K was liquidated at $2.97885.
This indicates selling pressure at this level, leading to market volatility.
What’s Next?
After this liquidation, $ME could either recover or test lower levels. Let’s prepare with a clear trade plan:
Buy Zone:
$2.90 - $2.95
This is a strong support zone where buyers might step in. Look for bullish signs like a strong green candle or higher volume before entering.
Targets:
1. Short-Term Target: $3.05
Immediate resistance. Partial profit can be booked here.
2. Mid-Term Target: $3.15
A potential rally could push prices to this next level.
3. Long-Term Target: $3.30
If momentum sustains, this is the higher resistance to aim for.
Stop Loss:
Place a stop loss at $2.87.
This is below the support zone, protecting you from further downside risks.
Pro Tips:
1. Watch Volume: Increasing volume near the buy zone strengthens the bullish case.
2. Track Market Trends: If Bitcoin or the broader market is weak, wait for stabilization before trading.
3. Risk Management: Keep your risk limited to 1-2% of your portfolio per trade.
Stay alert, stay disciplined, and never rush into trades without confirmation!
This is for informational purposes only. Always DYOR before investing.