BcH has observed massive liquidation of long positions: $7.8 thousand at $418.6!
Smart money has been wiped out - are you ready to ride the next wave?
Technical analysis and price strategy:
Current price action view:
$BCH has flushed out weak hands at $418.6 with the liquidation of long positions. This indicates a potential reversal area or opens the doors for more negative traps before an upward bounce.
Buying area (re-entry opportunity):
405 dollars - 412 dollars
Here smart buyers may enter - look for strong bullish candlestick signs, increased volume, or a false wick.
Target 1: 430 dollars
Target 2: 447 dollars
Target 3 (high risk - reward): 468 dollars
Stop loss:
397 dollars (strict stop loss) - if this point is broken, expect a deeper correction.
What makes this setup unique?
Liquidation candles are often seen as signals of trend exhaustion or trap areas.
418.6 dollars is now a major liquidation level - the market may use this as a starting point.
The relative strength index on medium time frames is close to oversold levels.
If volume supports the bounce, we may see explosive upward moves.
Narrative for the post
> "$BCH has eliminated $7.8 thousand in long liquidation at $418! Blood in the streets... but is this the sound of opportunity knocking? The trap has been set, and only the sharpest players will catch the reversal. Watch the 405-412 dollar area. The bounce could launch us towards $468 like a slingshot. Watch the volume, respect the stop loss, and ride the wave before the crowds wake up."
#ETHMarketWatch #MarketPullback #BinanceAlphaAlert $SOL #BTCBreaksATH110K
