$FTM Long Liquidation Alert
A significant $30,900 long position was liquidated at $0.965.
Liquidations like this often shake up the market and create trading opportunities for those who act wisely. Let’s analyze what’s next for Fantom (FTM) and plan a strategy!
Market Insights
Large liquidations signal market weakness but also open doors for a possible rebound. Two scenarios can unfold:
1. Continued Selling: If selling pressure dominates, the price may drop further.
2. Bounce Opportunity: If buyers step in at strong support levels, the price may recover.
Key Trading Levels
Buy Zone: $0.920 - $0.940
This is the key support area where buyers may show interest. Watch for signs of a reversal before entering.
Target Levels:
Target 1: $0.990 (Immediate resistance)
Target 2: $1.020 (Psychological level and strong resistance)
Stop Loss: $0.900
Set your stop loss slightly below the support zone to minimize risk in case of further drops.
Trading Strategy
1. Wait for Confirmation: Allow the price to approach the Buy Zone. Look for stability or bullish patterns like higher lows or strong green candles.
2. Enter Smartly: If the price holds above $0.920 and shows recovery signs, take a position. Use the Stop Loss to protect yourself.
3. Stick to the Plan: Avoid emotional decisions and follow your targets and stop-loss levels strictly.
Risk Management
Risk only 1-2% of your trading capital on this trade. This ensures your portfolio remains safe even if the market moves against you.
Pro Tip
Keep an eye on the overall crypto market sentiment, especially Bitcoin. FTM’s movements often align with broader trends.
Stay disciplined and trade smart! Opportunities come to those who wait for the right setup.
Would you like real-time updates or further insights on FTM?