$VELODROME Long Liquidation Alert!
A $6.65K long position has been liquidated at $0.19676, showing strong selling pressure and heightened market volatility.
Such events often indicate a shift in momentum, creating risks and opportunities for traders.
Market Insights:
1. Bearish Pressure: Long liquidation suggests bulls are losing control.
2. Key Support Levels: Immediate support lies near $0.1900. A break below could lead to $0.1850.
3. Recovery Chances: If buyers step in, a move above $0.2000 could signal a bullish recovery.
Next Suggested Move:
Entry Point:
Long Entry: Near $0.1900, if price shows support.
Short Entry: Below $0.1900, targeting further downside.
Targets:
Target 1: $6.2000 (initial resistance).
Target 2: $6.2100 (if recovery strengthens).
Stop Loss:
For Longs: Set stop-loss at $0.1850.
For Shorts: Place stop-loss above $6.2000.
Pro Tip:
Watch for volume spikes; they often confirm the strength of the next move.
Trade with discipline, use tight stop-losses, and avoid over-leverage in volatile conditions.
Stay sharp and seize opportunities wisely!