$ORDI Liquidated Short: $56.2K at $27.23
The market just saw a significant short liquidation, signaling a potential shift in momentum. Traders often interpret liquidations at key levels as signs of volatility and possible trend reversals. With this in mind:
Support: $26.50 (previous bounce level)
Resistance: $28.50 (recent rejection point)
1. Bullish Scenario: If price sustains above $27.50 and breaks $28.50 with volume, consider buying for a potential rally.
2. Bearish Scenario: If price falls below $26.50, expect more downside. Short positions may be safer below this level.
Suggestion: Stay cautious, and wait for confirmation around support and resistance levels before entering a position.