Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.began October with a bang, extending its late September rally to claim the $16 price level. However, jubilant bulls had their victory party cut short, as sellers hit back with a 9% price drop to recover the $16 price level.didn’t post immediate losses.
Likewise, the Chaikin Money Flow flipped negative to highlight significant capital outflows over the period under consideration. Riding the short-term bearish wave, the next target for sellers would be a 7% move to the $14.45 support level. If sellers lose momentum, bulls can keep prices in a range before making another attempt to flip the $16 price level.over the past 12 hours, longs accounted for 98% of the total liquidations. This amounted to $109.25k worth of closed long positions.
Bearish speculators quickly reacted by increasing their short positions with sellers dominating the long/short ratio by a 51.24% to 48.76% margin.Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating.
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