I took short positions on ALPACA because it reached a strong resistance with a high swing. This indicated that the coin had already liquidated a large number of short positions — around $1.87 billion in liquidation. After that, around $1 billion in long positions were opened by traders.
Since the coin had already made high profits from liquidating short traders, they moved to their second plan: to wash out and liquidate long traders as well.
That’s why I entered a short position, which I closed with 219% profit — earning $3,511.
Congratulations to all my followers who took the live trade and enjoyed the profits!
Also, I don’t hold coins like this for the long term — I prefer scalping, because these kinds of coins charge very high funding fees.
Always learn and trade smart with scalping!