$ME Long Liquidation Alert
A major long liquidation just unfolded: $1,124.5 at a price of $3.04171.
Key Details:
1. Liquidation Trigger: $ME price dropped to $3.04171, wiping out leveraged long positions.
2. Market Insight: The liquidation highlights significant sell pressure or weak support at this price level.
Next Move:
Short-Term Traders:
Support Watch: Key levels to monitor are $3.00 and $2.90.
If these break, expect accelerated selling.
Short Opportunities: Consider short positions on failed retests of resistance at $3.10 or higher.
Dip Buyers:
Look for consolidation and bullish reversal patterns near $3.00 before entering.
Avoid chasing the price without clear confirmation.
Risk Management:
Volatility Alert: Trade cautiously with strict stop-loss levels.
Stay updated on market news or whale activity to anticipate sudden moves.
Pro Tip: Liquidations often mark high-volatility zones.
React, don’t predict—let the market confirm its direction before committing heavily.
