$STEEM short liquidation update:
🔥 STEEM Alert: Short Liquidation Spotted! 🔥
The market has just witnessed a $5.1094K short liquidation for STEEM at $0.25289.
This indicates bullish momentum is kicking in, as sellers are being squeezed out of their positions.
Here’s the full breakdown and next steps for traders:
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Market Insights
1. Short Liquidation: This means the price pushed higher, forcing shorts to exit. Such moves often lead to a price rally or consolidation near current levels.
2. Buyers Taking Over: Bulls are likely aiming for the next resistance zones.
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Next Move: What Should You Do?
Here’s a clear trading strategy for STEEM:
Buy Zone: Consider entering around $0.248 - $0.255. Watch for slight pullbacks to get the best entry.
Target Levels:
Short-term Target: $0.270
Medium-term Target: $0.285
Long-term Target: $0.300
Stop Loss: To protect your capital, set your stop loss at $0.240.
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Why This Is Important
Short liquidations often act as fuel for upward price movements.
As bears exit, bulls step in, potentially driving STEEM toward higher levels.
However, patience is key—wait for pullbacks or confirmation before entering a position.
💡 Pro Tip: Keep an eye on volume. If volume increases with price movement, it confirms a strong breakout.
Also, track the overall crypto market trends, as they can influence STEEM's trajectory.
Stay alert and trade wisely! 🚀 The bulls are charging!
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