LINK Long Liquidation Alert
Long Liquidation Value: $34.31K at $21.549
Entry Point: $21.600
The entry point is set just above the liquidation price of $LINK at $21.549, anticipating a possible price reversal or upward movement following the liquidation.
Target Price: $22.500
Target set at $LINK $22.500, offering a 4.17% upside from the entry. This price level represents a potential resistance point, making it a reasonable target for profit-taking.
Stop Loss: $21.000
Stop-loss placed at $LINK $21.000, limiting downside risk to approximately 2.78%. This stop-loss ensures protection if the market moves against the position.
Risk/Reward Ratio: 1.5:1
Risk: $0.600
Reward: $0.900
The 1.5:1 risk/reward ratio provides a favorable setup, offering a higher reward than risk.
Market Context:
The liquidation event of #LINK suggests upward potential, as such events often lead to buying pressure. This could drive the price toward the resistance at $22.500.
⚠️ Disclaimer:
Cryptocurrency trading is highly volatile. Always conduct your own research and consult a financial advisor before making any investment decisions.