Come one, come all. Learn the art of the ladders. Folks, if you have been following me and you laddered your positions in as I outlined in many many previous posts and subsequently bought from 6400 down to $3500. You're weighted average should be around $4,300-$4,500. Meaning, if you gave what I said ANY credence. You are profitable in one of the worst bear markets ever and one of the steepest declines in crypto. You are welcome.
We ladder in bear markets to prevent loss and it worked out well. We are going to ride our laddered positions up to this $6,000 area. We should get a pull back from that area and at that time we'll evaluate whether we ladder specifically at that area on a pullback or need to go in larger.
Here is why things are shifting and why we should get a push to at least $6,000-$6,250.
1. Bull Flag. Take a look there it is.
2. Confirmed Ascending triangle. Identified by higher lows and a break of this upper support area at $4,500
3. RSI and MACD are positive.
You could very well argue that we could get a pullback to $4,500 with oversold RSI before the move to $6,200. However, with the pattern that's forming, I find that unlikely to happen. It appears we are going to move up and we are going to book a lot of profit.
Happy Trading and hodling,
-Sherem
We ladder in bear markets to prevent loss and it worked out well. We are going to ride our laddered positions up to this $6,000 area. We should get a pull back from that area and at that time we'll evaluate whether we ladder specifically at that area on a pullback or need to go in larger.
Here is why things are shifting and why we should get a push to at least $6,000-$6,250.
1. Bull Flag. Take a look there it is.
2. Confirmed Ascending triangle. Identified by higher lows and a break of this upper support area at $4,500
3. RSI and MACD are positive.
You could very well argue that we could get a pullback to $4,500 with oversold RSI before the move to $6,200. However, with the pattern that's forming, I find that unlikely to happen. It appears we are going to move up and we are going to book a lot of profit.
Happy Trading and hodling,
-Sherem
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Since I haven't said it in a while. SMASH THAT LIKE BUTTON
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Explaining ladders:
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And if you read that idea. I break down EXACTLY where I triggered my ladders at. I hope you laddered as well and held on.
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Getting ready to pop up.
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We have been slowly consolidating to the upside. Looks like the main resistance is at the very top of that candle at 5,330ish. I imagine we should bust through it fairly soon.
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well that didn't take long