There’s a scenario in $SOL that could wipe out your position if you don’t read this 👇
After breaking the uptrend, the coin is setting up a trap for traders.
The coin is liquidating both short and long positions from either side.
First, open interest is stable. This means some traders are still holding positions opened before the latest move, which could liquidate either shorts or longs. Right now, the odds are 50/50.
🔴 Short positions will be liquidated at: 111.49
🟢 Long positions will be liquidated at: 108.08
The price is very close to the long liquidation levels, which makes an initial move down more likely.
Funding rates are positive but fluctuating. This means that with every fake bounce, traders are opening long positions, providing the market with liquidity to liquidate longs at 108.08.
There is a demand zone at 103.26.
The most likely scenario is a drop to liquidate longs at 108.08, followed by a rise to liquidate shorts at 111.49.
Then a drop to the demand zone to complete the coin’s actual move. Why? Because the coin’s structure has been broken, which signals to me a genuine move toward the demand zone.
Trade carefully and be ready for this trap 👀
After breaking the uptrend, the coin is setting up a trap for traders.
The coin is liquidating both short and long positions from either side.
First, open interest is stable. This means some traders are still holding positions opened before the latest move, which could liquidate either shorts or longs. Right now, the odds are 50/50.
🔴 Short positions will be liquidated at: 111.49
🟢 Long positions will be liquidated at: 108.08
The price is very close to the long liquidation levels, which makes an initial move down more likely.
Funding rates are positive but fluctuating. This means that with every fake bounce, traders are opening long positions, providing the market with liquidity to liquidate longs at 108.08.
There is a demand zone at 103.26.
The most likely scenario is a drop to liquidate longs at 108.08, followed by a rise to liquidate shorts at 111.49.
Then a drop to the demand zone to complete the coin’s actual move. Why? Because the coin’s structure has been broken, which signals to me a genuine move toward the demand zone.
Trade carefully and be ready for this trap 👀