Longs Crushed: $66.4K Liquidated on $STX at $1.531!
The bulls just took a major hit as $66.4K in long positions were wiped out when $STX dropped to $1.531.
The market failed to hold key support, triggering liquidations and amplifying bearish momentum.
The sudden drop has traders on edge, questioning whether further downside is imminent.
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Key Details:
1. Liquidation Amount: $66,400 (long positions).
2. Liquidation Price: $1.531 caused the cascade.
3. Market Sentiment: Bearish pressure dominates as buyers struggle to regain control.
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Next Move Strategy:
1. For Long Traders: Avoid rushing back in. Look for signs of stabilization above $1.55 before considering new positions.
2. For Short Traders: Momentum may push $STX toward $1.50 or lower, but be prepared for potential relief bounces.
3. For Neutral Traders: Watch for consolidation near $1.52-$1.53.
A break below $1.50 could signal deeper corrections, while a rebound above $1.55 might hint at recovery.