This correction is healthy because it shakes out late longs and resets the trend after an extended move. Without these pullbacks, upside continuation becomes unstable, so this kind of liquidation often helps price rebuild a stronger and more sustainable structure.

$EPIC just saw a long liquidation of $1.2994K around $0.7317, and I’m watching this area closely. This zone is important because it previously acted as a support and reaction area where price paused and accumulated before pushing higher. When liquidations occur directly into a level with proven demand, it usually signals absorption rather than weakness.

From a technical standpoint, this level also aligns with a clean retracement of the last impulse leg. We’ve seen price react here before, which tells me there’s market memory in this zone. I’m watching how price behaves because they’re building strength instead of accelerating lower. If this level holds, the broader structure remains constructive.

Trade setup I’m watching: Entry Zone: $0.720 – $0.740

Target 1: $0.785

Target 2: $0.845

Stop Loss: $0.699

I’m staying patient and letting price confirm stability. If this level holds and we start seeing higher lows or tighter consolidation, that’s my signal. They’re building strength around this area, and if this level holds, the next upside leg can develop with much better balance and momentum.