I was tracking $PAXG as downside pressure built with late longs leaning into a weakening structure, and this long liquidation confirms that pressure released downward. That move wasn’t panic — it was excess leverage getting flushed as structure enforced itself. After the sweep, price is struggling to reclaim prior support, showing sellers remain in control. This is why liquidation should be treated as fuel, not fear.
EP: 5620 – 5551
TP: 5480 → 5400 → 5300
SL: 5670
Condition: PAXG must stay below 5620 to maintain bearish structure.
Confirmation: For confirmation, wait for rejection below 5480.