$FTM Long Liquidation Alert
A significant $4,841.2 worth of $FTM longs is hanging by a thread at the crucial price level of $0.83744.
With bearish pressure mounting, this level has become the market’s next battleground, where major volatility is expected to erupt.
---
Key Details
1. Liquidation Level: $0.83744
2. Market Sentiment: Bears dominate, with sell pressure increasing.
3. Potential Impact: A breakdown below this level could trigger a cascading liquidation event, intensifying downward momentum.
---
Suggested Next Moves
For Long Traders:
Stop Loss: Set slightly above $0.83744 to limit losses in case of a breakdown.
Reduce exposure and wait for a confirmed rebound before re-entering.
Watch for a potential double-bottom pattern if the price stabilizes near this level.
For Short Traders:
Prepare for entry if $0.83744 is breached with strong volume.
Set take-profit targets in line with key support zones below this level.
Use tight risk management to avoid being caught in a reversal.
For Neutral Traders:
Observe the market reaction closely.
A breakdown could open short opportunities, while a bounce may signal a buying zone for potential reversal plays.
---
Final Tip:
Keep a sharp eye on volume and order book depth. $FTM
A high-volume drop below $0.83744 could confirm a bearish breakout, while any sudden buying pressure might signal a trap.