Major Liquidation Alert!
$POL Short Liquidation:
Amount Liquidated: $1,425.7K
Liquidation Price: $0.4644
This move signals a significant squeeze in the short positions as $POL prices surged past $0.4644, forcing a liquidation of heavy short bets. The bullish momentum is picking up steam, and we could see further upside if this trend continues.
Next Moves
1. Watch Key Resistance Levels:
The next resistance zone could be $0.50-$0.52. If broken, it may fuel further bullish momentum.
2. Evaluate Market Sentiment:
Monitor buying pressure and trading volume closely. A sustained increase might confirm an extended rally.
3. Set Stop Losses:
If entering long positions, consider setting tight stop-loss levels below $0.46 to manage risk in case of a reversal.
4. Be Cautious of Reversals:
After a major liquidation event, markets sometimes consolidate or retrace. Watch for corrections before jumping in.
Key Takeaway: Bulls are flexing their strength, but stay vigilant for potential resistance or profit-taking zones.
What’s your next play? Let’s strategize further!