Shib seems to be developing a trend of holding a line of support for about a month before it drops and then that same line becomes resistance before the next leg down. I'm holding.
Thinking that the $1000 line will hold. If we drop below $1000, expecting a long wick down to $850 on the weekly and then a recovery. Holding Jul $1200c, adding call spreads to catch bounces.
If we see a breakout on $shib, expect the break out to be to the upside. The rumor of an add to Robinhood has been circulating for months. If there is no break out or catalyst, I'll be looking for shib to continue its slow decline and gain zeros instead of "eating zeros".
Random drawings on a chart. $amzn over the last ~18 months; The goal is to catch the bounce and exit before the crowd does. It seems to "normally" take 15-45 days from the bounce to the middle of the channel. The yellow trend lines mark the areas in which I'd step out of the position and take profits. If there's any large catalyst, like a split (fingers...
