Sea of Red – See Opportunity In SHIB and How to Mitigate Loss
To the untrained eye when the market is all red their is a fear in some people. They are afraid to make moves for fear of losing. Some even sell. However, when I see all the red I see opportunity. If you position yourself properly, when the market is up or down you should always feel up.
If you bought into SHIB up at the top you can dollar cost average down. When the market is down it’s the best time to improve your position. If you do not know what dollar cost averaging is refer to this post of mine a while back. SHIB has strong support around the .000046 level. However, if Bitcoin drops further you could see SHIB go as low as .000035. From my perspective anything around the .000046 or below is a good place to DCA or get in.
If your just getting into crypto and bought SHIB at the top and don’t want to buy more the next option is to stack on Ethereum or Bitcoin. These are great tokens to build a crypto foundation upon. A strong portfolio is built around 75–80% top tier coins like ETH, BTC or BNB. In my opinion as long as these three make up your foundation you can build from this.
So even though the market is down you can still find ways to build your portfolio. Either dollar cost average down or simply stack top tier coins. Do this and even when the market is down you will still be up when everything rally’s for the next round.
In todays TA this is where I think SHIB is going. We did have a dip where I was expecting we would rally. But hey that was expected thanks to BTC sell off. However, I’m still feeling bullish and we are right on that support at .000046 we can bounce back up.
But if we look at Bitcoin it’s in a big correction and this tends to sway the direction of the whole market. Best we can do is watch but be aware where we can go.
If we dip lower next support is at .000035 (purple support line circled in blue) if we stay above .000046 and BTC turns around we can be back up to that .000053 (green trend line up circled in blue support at .000046 yellow line)level before it pushes back up over .000063.
Market is red however, their are opportunities around.
Keep it Lit. 💎🙌🏼🚀
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