I am typing this post in advance of publishing it, so I’m not sure if the chart will be much different, but I wanted to point out the rather important $2200 level on Ethereum ($ETH). This level was the neckline for the exceptional head and shoulders top that broke down in May 2022, and it is also the top line for the bullish right triangle pattern in formation right now. So this line in the sand will be an important determinant of crypto gets a whole new head of steam going higher, because a successful push above this right triangle would be bullish.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
There are times when the market is so amenable to bearish plays that I might accrue as many as thirty different positions. It can be a lot of work to manage that many positions at once, but when the opportunity arises, it is enjoyable to participate in a variety of sectors and setups.
However, in recent weeks, it has become hazardous almost to the point of foolhardiness to take a bearish position on anything. In my own case, I scaled back my positions dramatically to a mere seven, keeping most of my portfolio in cash instead. These “seven survivors” are described briefly below, along with the stop-loss level I am using to exit my long-put position should the given price be violated.(more…)