Litecoin (LTC) Long Position Liquidation at $117.35

I experienced a significant liquidation of my long position in Litecoin (LTC), amounting to $88,600 when the price hit $117.35. This event illustrates the risks associated with leverage in crypto trading, especially in volatile assets like LTC. Such liquidations often occur during rapid price swings, highlighting the importance of risk management.

My decision to go long was based on the belief that LTC could rebound from recent declines, but the market moved against my expectations, resulting in liquidation. This underscores the unpredictable nature of crypto markets and the necessity of setting appropriate stop-loss levels to protect capital.

Despite this setback, it's crucial to analyze market conditions thoroughly before entering new trades. LTC's technicals and market sentiment should be carefully evaluated to determine if a new position is justified or if it's better to wait for clearer signals.