#marscoin I entered a short position on Mars Coin at 0.0822

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#marscoin I entered a short position on Mars Coin at 0.0822, when it was making a new low. I expected it to break below 0.05, and had also said it could be a good entry below 0.05.

Most coins saw a sharp downward wick yesterday in the wake of the hacking incident, and Mars Coin was no exception.

It just so happened to wick below 0.05. It took 9 days to capture a big move—not bad.

The downward wick has flushed out most of the holders trapped at higher prices. Next month will be Mars Coin’s time to put on a show with a rally!

锦鲤东哥

#marscoin Date: 10.21 Dong Ge's 10th short-term trading strategy

Asset: MARSCOIN Direction: Short

Take profit: None set Stop loss: 0.093

Entry price: 0.08225

Rationale: On-chain data shows that large sell-offs in MARSCOIN have continued over the past 24 hours, with a 7-day decline of up to 38.31%. The current price is right at a strong resistance level—the previous rebound high—and buying support has completely dried up. 0.093 is a dense resistance zone for accumulated positions over the past 3 days; the trend will only reverse if the price holds above it. Setting the short position's stop loss at this level pushes the risk-reward ratio above 3:1, maximizing the trade's certainty.

MARSCOIN-18.79%