Dollar Cost Average Your SHIB and Strengthen your Position In A Sea of Red

The market took a turn to the downside. And boy did we see a very red day. BTC down nearly 18% touching down at 45k. ETH drops below 4K to 3.9k. SHIB drops below support at .000042 and dips below second support at .000036. The crypto market as a whole saw a major sell off.

Now there are two ways to look at this. One, panic and sell or two, accumulate. I’m hoping that most of you have accumulated and improved your current positioning. If you have been following my posts for the past few weeks or months I’m hoping all of you accumulated. This was truly a buying opportunity.

I’m holding my large bag of SHIB. Diamond hands. In yesterdays post I did write if we break out great but if we drop we’d hit that .000036 level. And we hit it. Not the direction we wanted to go but we did. So what does this mean? I’m still feeling bullish personally. Going to have to wait till the weekend is over to do some proper TA. For now I’m stacking.

If your holding SHIB and you bought at the top this is a great time to dollar cost average down. If your unable to do this now simply hodl. Never sell your bags at a loss. You don’t want to put yourself out. This is the market shaking out the paper hands. If your new to crypto don’t panic, don’t sell. Hodl or dollar cost average down. This is the best strategy.

What’s dollar cost average? Think like this. You bought a million SHIB at the top at .00008 per token. Now that the market has pulled back big. You buy another million tokens this time at .000036 each. Your dollar cost average is now .000058 plus you have increased your holdings. This is dollar cost averaging in a nutshell.

Remember crypto is volatile. Sometimes we get these sharp corrections. This is a sign of a healthy market. It’s the cycle. Know how to position yourself in these down times and when things rally you’ll find yourself in a spaceship… or maybe a Honda civic. Either way, your moving up.

Leave your emotions at the door. Crypto can be very unforgiving if your new or don’t know how things work.

Keep it lit. Don’t get rekt. 💎🙌🏼🚀

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Note: do your due diligence. Don’t make financial decisions based on my charts. I’m not a financial adviser. Just a guy with an ukulele who loves crypto. With that own your decisions. I’m not responsible if you get rekt. Crypto is high risk and high rewards. Play at your own risk.