Short Liquidation Alert for $OM

Massive Liquidation Event.

In the latest wave of price action, has sparked a dramatic short liquidation.

A whopping $1.6616K in short positions were liquidated at the $3.9193 level.

What does this mean for traders.

1. Short Squeeze: The liquidation could trigger a potential short squeeze, where those who were betting against $OM are forced to buy back positions, driving the price higher.

2. Volatility: We’re witnessing increased volatility, which means fast and furious moves on the charts.

3. Opportunities for Bulls: With the shorts being cleared out, bulls could take control, and if momentum holds, we could see a strong rally in the coming hours or days.

Key Levels to Watch:

Buy Zones: If you’re considering entering the market, watch for pullbacks near the $3.70 - $3.80 range, where support might hold.

Target: Bulls might look for a potential run toward $4.10 - $4.30 in the short term, depending on the continuation of the bullish momentum.

Stop Loss: To protect against downside risk, a stop-loss could be placed below $3.50 to shield against a deeper correction.

What’s next

The market is on edge, and this liquidation could trigger the next big move! Keep your eyes on $OM and stay alert for more price action.

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