$STEEM Short Liquidation Alert
Amount Liquidated: $1,018.2K
Price Level: $0.27023
A major $1.02M short liquidation just shook the steem market as the price surged to $0.27023.
This event marks a critical moment of bullish strength, with shorts forced out, likely triggering further market excitement and volatility.
Key Details:
1. Short Squeeze Triggered: The liquidation reveals significant short-side pressure, now overwhelmed by bullish momentum.
2. Resistance Breach: Hitting $0.27023 may have broken a key level, indicating potential for a stronger upward move.
3. Market Sentiment: Events like these often fuel additional upward pressure as liquidated traders buy back to cover losses.
Next Move Suggestions:
1. For Long Traders:
Monitor for a breakout above $0.275. A sustained move could propel $STEEM toward $0.29 or higher.
Set stop-losses near $0.26 to minimize risks if the rally reverses.
2. For Short Traders:
Avoid new short positions unless strong resistance is observed near $0.28.
Consider entering shorts only if steem drops below $0.26 with significant selling momentum.
3. Neutral Traders:
Keep an eye on price consolidation around $0.27. A break either way could signal the next major move.
Failure to hold $0.27 might indicate a pullback to $0.25 or below.
Stay Focused:
The $STEEM market is highly volatile after this liquidation.
Follow volume trends and key levels to make informed decisions in this fast-moving environment!