That’s longs getting forced out at the lows a classic sign of downside pressure, but also where reversal traps can form.
When longs are liquidated, it often clears the path for either:
Further downside continuation (if sellers stay aggressive)
Relief bounce (if the market was overcrowded on longs)
Trade Setup (Reactive Play):
Entry Point (EP): $0.134 – $0.138
Take Profit (TP): $0.125 / $0.118 (for continuation)
Stop Loss (SL): $0.142
If price stays below the liquidation zone → bearish control remains.
Reclaim it with strength → short squeeze potential.
This is a decision zone breakdown or bounce, no in-between. I am not your Financial advisor.
Always DYOR
#PLAY #LongLiquidation #PriceAction #RiskManagement $PLAY $ETH
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