After moving sideways for weeks, many altcoins are breaking below their support levels and resuming their Downtrend.
These are ripe Short Sell opportunities for profiting in a Downtrend or for hedging your Long positions in the portfolio.
Here’s an example:
Trend: XVG is in a Downtrend.
Price just broke below support ($0.0056)
Price target: price is likely to resume its downtrend and revisit the next support level at $0.0048 for a 14% profit (Short Sell)
Stop Loss: $0.0061 (7% potential loss versus 14% potential profit for 1:2 Risk-Reward-Ratio or RRR)
XVG Support Breakout in a Downtrend
When you sync the trend direction with trade direction, win rates increase. Traders should Buy in Uptrend and Short Sell in Downtrend. That’s because trends have the tendency to continue.
Our platform identified over 100 such assets.
To find these Short Selling trading opportunities, use this market scan (see live results) and save it.
To find assets breaking above resistance and trading in Uptrend, use this market scan (see live results) and save it.
You can also create an alert from it so you get notified when assets break through support or resistance levels.
altFINS platform makes it easy to spot such trade opportunities.
It constantly updates the trend ratings and monitors for key levels (Support, Resistance) accross 2,200 assets and 5 time intervals (15m, 1h, 4h, 12h, 1d).
Go ahead and check out this powerful market scan here.