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VictorFreed
Jul 18, 2021 10:11 PM

DASH Long: TrendLine Breakout, Potential C-Fork Long

Dash / TetherKuCoin

Description

R/R: 10.4
Lev: 3x

Trade closed: stop reached

Ouch...this one stings quite a bit.

LESSON LEARNED:

Consider the bottom of the current channel as a SL point.
Comments
barrrometr
What was it?
VictorFreed
@barrrometr, What was what
barrrometr
@VictorFreed, the price almost doubled in a second
VictorFreed
@barrrometr, Exchanges saw that I was afk and was stopped out so they decided it was time to moon...
No but in actuality I failed to find any news/fundamental reasons for the spike, so my guess is the technicals, mainly the C-Fork, being the cause of the spike. Bots may be programmed to trade C-Forks.
In my experience, C-Forks are more likely to retrace to the Origin of Extension in quick bursts like this rather than slowly grind back up.
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