Massive Long Liquidation Alert on $ME !
A $11.67K long position has been liquidated at $3.63343, signaling a potential shift in market dynamics.
This sudden move could trigger increased volatility and create trading opportunities for those prepared.
Market Analysis:
1. Bearish Signal: The liquidation suggests strong selling pressure, with bulls losing control at higher levels.
2. Key Support Levels: If the price continues to drop, watch for support at $3.50 and $3.30.
3. Recovery Possibility: If buyers step in, a bounce above $3.70 could indicate renewed strength.
Next Trading Plan:
Entry Point:
Short-term Long: Look for a rebound near $3.50.
Short Entry: If the price breaks below $3.50, target the next support at $3.30.
Target Levels:
Target 1: $3.70 (initial resistance).
Target 2: $3.85 (if bullish momentum sustains).
Stop Loss: Set a stop-loss at $3.40 for long trades to minimize risk.
Pro Tip:
Stay alert for sudden volume spikes; they often signal the next big move.
Avoid over-leveraging in such volatile conditions and trade with a clear plan.
Trade smart, stay safe, and let the market reveal its direction!