OBV and RSI show that a trap is approaching and is close to overbought, at any moment profit-taking is approaching and positions will start to be liquidated
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David Warn
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Bullish$WCT Bulls Strike Back — Short Liquidations Triggered!
An explosive move just rocked the $WCT chart. A sharp liquidation worth $18,758 hit at $1.2629, signaling that short sellers were caught off guard. Momentum is shifting, and this could be the beginning of a breakout run. Here's a detailed breakdown of the current setup:
Technical Analysis:
Short Liquidation Level: $1.2629 — this level now acts as a short-term support and a psychological line in the sand for late shorters.
Structure Shift: Price action has flipped from consolidation into aggression, as bears lose grip. Volume confirms this breakout.
Buy Zone:
$1.2300 to $1.2650 — Ideal entry zone if price consolidates or retests post-liquidation. Strong support forming in this range.
Targets:
Target 1: $1.3450 — Local resistance zone; high probability level for first take profit.
Target 2: $1.4100 — Previous swing high and breakout level.
Target 3: $1.5200 — Extended bullish target if momentum continues with rising volume.
Stop Loss:
$1.1950 — Below previous higher low and liquidity wick. If price closes below this, trend strength is in question.
Sentiment Outlook: Shorts are under pressure. Liquidations like these are often the spark that ignites a bullish rally. If bulls maintain control above $1.26, further upside is likely. However, patience is key — let the price retest and confirm strength.
#wct #BinanceAlphaAlert
An explosive move just rocked the $WCT chart. A sharp liquidation worth $18,758 hit at $1.2629, signaling that short sellers were caught off guard. Momentum is shifting, and this could be the beginning of a breakout run. Here's a detailed breakdown of the current setup:
Technical Analysis:
Short Liquidation Level: $1.2629 — this level now acts as a short-term support and a psychological line in the sand for late shorters.
Structure Shift: Price action has flipped from consolidation into aggression, as bears lose grip. Volume confirms this breakout.
Buy Zone:
$1.2300 to $1.2650 — Ideal entry zone if price consolidates or retests post-liquidation. Strong support forming in this range.
Targets:
Target 1: $1.3450 — Local resistance zone; high probability level for first take profit.
Target 2: $1.4100 — Previous swing high and breakout level.
Target 3: $1.5200 — Extended bullish target if momentum continues with rising volume.
Stop Loss:
$1.1950 — Below previous higher low and liquidity wick. If price closes below this, trend strength is in question.
Sentiment Outlook: Shorts are under pressure. Liquidations like these are often the spark that ignites a bullish rally. If bulls maintain control above $1.26, further upside is likely. However, patience is key — let the price retest and confirm strength.
#wct #BinanceAlphaAlert
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.