Boom! $SYRUP The market bulls are shaking!
The market recently experienced a massive liquidation of long positions - with $4.89 thousand wiped out at $0.4186. The weak have exited... and now it's time for the hunters to prepare.
What just happened?
The price dropped sharply, leading to the liquidation of leveraged long positions. But amidst the chaos... lies the opportunity.
$SYRUP Technical Analysis (Post-liquidation):
Buying Zone (Entry Range):
$0.4020 - $0.4180
This is the golden zone after the liquidation - buyers may step in to regain momentum. Watch for confirmation of trading volume.
Targets:
1. T1: $0.4380 - Secondary Resistance
2. T2: $0.4625 - Previous High of the Range
3. T3: $0.4890 - Pre-liquidation Area (Filling the Correction)
4. T4: $0.5120 - Potential Breakout if the market structure flips towards bullish
Stop Loss:
$0.3910
A close below this level indicates further weakness - respect the risk, and preserve capital.
Insight:
The large liquidation indicates a drain of liquidity. Market makers may now target higher levels to trap short positions. This setup is primed for a mean reversion, but watch closely - trading volume and market structure must support this move.
Conclusion:
They panicked. You plan.
Don't chase green candles - anticipate them.
