Battered Bear Post

I've been here before, you would have think I would have been better prepared. Price action went back to resistance on a inverted head and shoulders last July and here we are beginning the new year with a inverted head and shoulders that took us right to resistance. My idea of going big at the 50w SMA didn't work as well as I thought and a stop should have been at the neckline of the inverse head and shoulder or just above the 15 ema. but whatever. I'll probably end the quarter up, and definitely the next 6m. But taking this L this quick in the year feels bad. But You don't deserve the x10 if you can't handle the losses.

We are beginning to poke our head out of the EMA ribbon and longs have finally begun to drop

The MACD situation very well may be similar as we have a potential failed cross coming again. Price action may go sideways way longer than most people expect and then it will fall off the cliff. I am using BTCUSD as my benchmark to short ETHUSD as it is more volatile, so this isn't completely an academic post. When BTC goes down it is taking ETH with it, and ETHUSD has a higher beta.

last bear market ETHUSD took beating after beating while bitcoin took relatively manageable losses so hopefully for me and my account balance I will get a repeat.
If this is like last time, after this dip to about the right shoulder of the inverse head and shoulder it should get pretty boring unless you short resistance and short it big.