Are you seeing this too...!?
I mentioned in a previous post that I believe BTC is king. While you may see a random pump/dump in the short term in some ALTs, overall they tend to follow BTC. As we see BTC continue to dump, I've been looking for clear signs and opportunities for a low risk SHORT and I believe I've found one in LTC. I very rarely trade anything other than BTC and ETH but this looks too good to pass up. I opened a short position at $51 with the previous 4HR close below the MAJOR TREND LINE. Anticipating some type of a bounce and will look to add around $53 and possibly $58 if it bounces that high. My SL set to the previous swing-high ($64). Looking for initial TP around $38.
Trade active
Like my BCH trade, yesterday's INSIDE BAR and Doji has me anticipating a slow down of this dump in the short term. Moved my SL to $49.5.Trade active
TP hit at $38Trade active
Profits taken. 50% of original SHORT remains open.Trade active
SHORT remains open. SL at $42.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.