The cryptocurrency market is always full of surprises, and BMT/USDT is no exception. Currently trading at $0.1671, this token has seen a 9.04% drop in the last 24 hours. With a 24-hour high of $0.1891 and a low of $0.1612, traders are wondering—is this a buying opportunity or a warning sign?
Breaking Down the Chart • The price has been in a clear downtrend, as indicated by the Parabolic SAR (yellow dotted line) consistently above the candles. • Trading volume remains decent, with 24-hour volume at 89.17M BMT ($15.61M in USDT). • Moving averages (MA5 & MA10) suggest a bearish trend, meaning caution is advised.
Should You Buy or Sell?
🟢 Bullish Case: If support at $0.1612 holds, we could see a bounce back toward resistance levels near $0.18+.
🔴 Bearish Case: If BMT/USDT falls below support, it could head towards $0.14 or lower.
Final Thoughts
The market is volatile, and risk management is key. Are you buying the dip or waiting for confirmation? Drop your thoughts in the comments!
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$GPS S Short Liquidation: $25.548K Wiped Out at $0.03652 – The Biggest Short Squeeze Yet? The crypto market just saw a massive liquidation event as a $25.548K short position on $GPS S got completely obliterated at $0.03652! This is one of the biggest liquidations we've seen recently, and it's sending shockwaves through traders.
Was this a whale-induced short squeeze? A liquidity trap? Or the start of an even bigger breakout? Let’s break it all down! What Just Happened? A short liquidation occurs when traders bet against a crypto asset, expecting the price to fall. But when the price moves in the opposite direction, these traders get rekt, and their positions are forcefully closed by the exchange.
*Market Insights* - *Profit-Taking and Correction:* Strong rally followed by a sharp rejection wick, indicating profit-taking and possible correction. - *Bearish Divergence:* Bearish divergence on lower timeframes suggests momentum exhaustion. - *Downside Movement:* If price fails to reclaim $9.40, expect further downside movement.
*Tips* - Look for a weak retest of $9.30-$9.40 before entering short. - Volume confirmation on selling strengthens the bearish setup. - Monitor lower timeframes for bearish confirmation signals.
*Risk Management* - *Position Sizing:* Manage position size to limit potential losses to 2-3% of the trading account. - *Risk-Reward Ratio:* Aim for a risk-reward ratio of 1:2 or higher to ensure potential profits outweigh potential losses. - *Stop-Loss:* Stick to your stop-loss and avoid over-leveraging.
*Trade Plan Scenarios* - *Bearish Scenario:* ORDI/USDT breaks below $8.60, targeting $8.40 and lower. - *Bullish Scenario:* ORDI/USDT breaks above $9.55, targeting $9.70 and higher.
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If you want a trade plan of your desired coin, write it in the comments below. I will post its trade strategy .