Short LRC

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Loopring (LRC) is a L2 blockchain built on Ethereum. It is a protocol to facilitate the construction of Decentralized Exchanges (DEXs).

Prices broke the longterm weekly trendline and was rejected after retesting it.

A proposed short setup with R:R = 2 is in chart.

To see better the price action, here below is a bigger view (on 1W TF)

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ملاحظة

LRC was down, 9% of profit from entry

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ملاحظة

LRC is still slowly bleeding (with low trading volume) with negative and doubtful sentiment of markets. The final target is still on the table but one should book a partial profit (10%) here.

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تم إغلاق الصفقة يدويًا

LRC's trade has reached 16% profit.
BTC and the whole market are strong. Better close trade here and wait for a reactivation later.

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تم فتح الصفقة

Trade reactivated

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تم إغلاق الصفقة يدويًا

Trade closed because BTC has some early sign to breakout
specially with MFI (to be confirmed)