Short liquidation alert is coming!
Just now at $1.59147, the short position of $5009.9 was forced to close, which means that the shorts are squeezed and the buying power is very strong! The bulls are starting to heat up, but is this a precursor to a breakthrough or just teasing us? We have to be prepared for the next change!
--- What should we do next? The trading plan must be clear and practical:
Buying range: It is best to enter between $1.57 and $1.59 (be careful, there may be a small pullback or consolidation, so it is safer to enter the market).
Target:
First reach $1.62, which is an immediate resistance level. Then rush to $1.66, the medium-term resistance level. If the rise is fierce, $1.70 will be our bonus target.
Stop loss: Remember to set it below $1.55 in case it falls.
--- Why is this important? Such a large short liquidation often means that the price is going to soar, because the sellers have to run away quickly. $USUAL looks quite bullish now - if the trading volume keeps up, it will continue to rise.
--- Tips for trading $USUAL:
Keep an eye on the trading volume: if the buying volume is large, it means that the buyers are interested. Follow the rules: keep the stop loss, and don't chase the price if it moves too fast. Look at the big trend: the sentiment of the entire crypto market can also affect the trend of $USUAL.
Trade wisely: short liquidation can easily make the market turbulent - we have to be smart, act according to the plan, and make money steadily. Wish you good luck!
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