$LINK how many days have passed just like that ๐. But at 16:15 on 26/09, Binance Futures recorded an OI drop of -1.18% along with a price spike of -0.90% within just 5 minutes. A clear wave of forced position closures, wiping out the Long side.
This data indicates that Long orders were swept via stop-loss or account liquidations due to the rapid price drop. This "cleans up" Long liquidity, relieving selling pressure. A large amount of leverage has been removed. The question is: has this zone been enough to "sweep" to create new momentum, or is it only the opening act for something more complicated? ๐
For risk management, always wait for 15 minutes of candle close confirmation before entering a tradeโthatโs a guiding compass ๐. Donโt try to "catch a falling knife" when the trend is still unclear.
$LINK have you found support yet? What do you all think?
#Write2Earn #CryptoTrading #Altcoin
(The post is for sharing purposes only, not investment advice)
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๐ EN: On Sep 26th, 16:15 UTC+7, $LINK experienced a significant Long liquidation with Open Interest dropping -1.18% and price falling -0.90% in 5 minutes. This forced closure indicates a clearing of leveraged Long positions.
This data indicates that Long orders were swept via stop-loss or account liquidations due to the rapid price drop. This "cleans up" Long liquidity, relieving selling pressure. A large amount of leverage has been removed. The question is: has this zone been enough to "sweep" to create new momentum, or is it only the opening act for something more complicated? ๐
For risk management, always wait for 15 minutes of candle close confirmation before entering a tradeโthatโs a guiding compass ๐. Donโt try to "catch a falling knife" when the trend is still unclear.
$LINK have you found support yet? What do you all think?
#Write2Earn #CryptoTrading #Altcoin
(The post is for sharing purposes only, not investment advice)
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๐ EN: On Sep 26th, 16:15 UTC+7, $LINK experienced a significant Long liquidation with Open Interest dropping -1.18% and price falling -0.90% in 5 minutes. This forced closure indicates a clearing of leveraged Long positions.
