🚨 $BEL Short Liquidation Alert! $9.8427K Liquidated at $0.6403!
A big $9,842.7 in short positions were liquidated at $0.6403, causing a sharp upward spike! Bears were forced to cover, and now the bulls are in control. Will this momentum continue, or are we in for a quick retrace? Let’s break it down!
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Market Breakdown
What Happened? A significant short liquidation at $0.6403 shows that short sellers are being squeezed, pushing the price higher.
What’s Next? This could lead to further price gains if the bulls stay strong, but we might also see a pullback before any further upside.
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Trading Plan for $BEL
Buy Zone
Look to enter between $0.635 - $0.645 if the price pulls back to retest support after the liquidation.
Sell Zone (Short Opportunity)
Consider shorting between $0.650 - $0.660 if the price fails to break through and shows signs of reversal.
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Targets
If Buying:
Target 1: $0.660 (next resistance)
Target 2: $0.680 (potential breakout level)
If Shorting:
Target 1: $0.620 (support level)
Target 2: $0.600 (deeper retracement)
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Stop Loss
For Shorts: Stop loss at $0.670 to avoid large losses if the price continues upward.
For Longs: Stop loss at $0.620 to protect your position in case of a sharp pullback.
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Why This Matters
1. Short Squeeze Effect: A $9K liquidation creates strong buying pressure, which could lead to further gains.
2. Key Support/Resistance Levels: The $0.640 mark is critical—if the price holds above it, we may see a move toward $0.660 or higher.
3. Bullish Momentum: As long as buying volume stays high, $BEL could continue its upward trend.
Watch for a retest of the $0.640 support level. If it holds strong, a rally toward $0.660 could be next! Be ready for action, and manage your risk carefully.
🚀 Will $BEL keep climbing, or is a reversal ahead? Stay alert and trade smart!
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