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$GMT The recent long liquidation at $0.13143, amounting to $4.9192K, has brought some excitement and volatility to the market. Liquidations like this can cause price swings, and it's important to know what could happen next and how to trade it.
Current Market Conditions.
After the liquidation, could face some selling pressure. However, this is also an opportunity for potential buyers if we see the price stabilize or bounce back.
Buy Zone.
$0.1260 - $0.1280: This is an ideal range for entering long positions. The price might test this area before moving upwards, as this zone could act as support.
Target.
$0.1450. Once the price starts moving up, $0.1450 is a good short-term target. This level has been important in the past as a resistance area, so a breakout above this could push prices higher.
$0.1550 - $0.1600. If the market continues to show strength after breaking $0.1450, this would be the next target zone.
Stop Loss.
$0.1220. It's important to set a stop loss in case the market moves against you. If $GMT falls below this price, it may indicate a further downtrend, and you should exit to minimize losses.
What To Look Out For.
1. Volume. Watch for any spikes in volume, as they could indicate a strong move.
2. Market Sentiment. Keep an eye on the broader market trends, as $GMT can be affected by the general crypto market movements.
3. Key Support Levels. If $0.1260-$0.1280 holds strong, it could be a good sign that the trend will continue upward.
Strategy Summary.
Enter Long around $0.1260 - $0.1280.
Target for profits at $0.1450 and potentially higher at $0.1550 - $0.1600.
Stop Loss to protect your position below $0.1220.
Disclaimer. Trading in cryptocurrency can be volatile and risky. Always do your own research and consider risk management before entering a trade.
YOU DON’T HAVE TO TRADE EVERY DAY ! Overtrading doesn’t make you a better trader; it puts your capital at risk. Two weeks ago, I met a rookie trader who was riding high on the market’s momentum. He had over a dozen positions open at once ( insane, 3 at risk to me is dangerous), yet he was feeling confident because everything seemed to be working in his favor. I warned him about the coming volatility and advised him to de-risk his positions. He didn’t listen. A few days later, after the market corrected aggressively, he went dark—post-loss depression hit hard.
You can’t control the market, but you can control your risk. Overexposure is a silent account killer. In my copy trading account, I never risk more than two positions at once. Patience, discipline, and risk management are the foundation.
I highly recommend LR Thomas’s book on overtrading. Here are some principles I’ve learned from it: 1. Create a Trading Plan – Define entries, exits, and risk limits. Stick to it. 2. Set Goals – Realistic goals keep you focused and disciplined. 3. Use a Journal – Track trades, emotions, and patterns to learn and improve. 4. Manage Risk – Proper position sizing and stop-loss orders are key. 5. Control Emotions – Practice mindfulness to avoid fear and greed. 6. Limit Trades – Fewer, well-thought-out trades often lead to better results. 7. Avoid Noise – Tune out distractions and stay focused on your plan. 8. Take Breaks – Rest keeps your mind sharp and avoids burnout. 9. De-Risk: Limit open positions to one or two unless the stop-loss is at break-even after taking the first profit. Only open new positions once de-risked.
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