Thrilling Update on $ORDI Short Liquidation.
The crypto markets never sleep, and neither do the liquidations.
A whopping $5,026.6 worth of $ORDI shorts got liquidated at a price of $28.94. This shows strong bullish momentum as shorts were squeezed out, likely due to aggressive buying or stop-loss triggers.
What's Happening.
Short Liquidation: This occurs when traders betting against the price (short sellers) are forced to close their positions due to the market moving against them.
Why at $28.85523.
This level might have been a key resistance zone, triggering buy orders and liquidating overleveraged shorts.
What Does It Mean.
1. Bullish Sign: Liquidation of shorts often suggests strong upward pressure.
2. Key Level: $28.85523 is now a level to watch for possible retests or consolidation.
3. Market Sentiment: Increased liquidation hints at volatility, with traders actively trying to outmaneuver one another.
Strategy for $ORDI Traders
If Bullish: Look for breakouts above $28.85; next targets could be $30+.
If Bearish: Watch for signs of rejection at resistance zones; a pullback to $27.50 could offer opportunities.
Key Zones to Watch:
Support: $27.50
Resistance: $30.00
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