SHIB - PREDICTIONS
All,
SHIB has the hype, but definitely a horrible market cap/tokens available. Let me start off by stating the obvious. SHIB could cure cancer, but if BTC/ETH are tanking it will tank also. This is one of the biggest reasons I tend to stay away from Crypto entirely. With that being said I do trade some in high retest areas where SHIB is now. So before you think you have the perfect setup as always check father bitcoin and mother ethereum, because if they go down you go down with them.
Color predictions
Green (unlikely) - BTC would need a big reversal from tanking, in theory this is a high retest and definitely should/would move most stocks. However... I think big money doesnt want it to bounce here I really don't see SHIB getting past that pink resistance line so definitely would be a solid profit and might be a wave 1 hit and might pass it later on. Still I think overall green isn't going to work unfortunately. Too many coins not enough profit/risk on big money.
Orange/Yellow (most likely) - Makes tons of sense to bounce on retests here 32-24 range it's up to you to decide where and be patient/watch big money and obviously watch BTC/ETH etc.
Pink (unlikely yet, but if it got there a massive bounce) - Pink would be a banger on that retest. I could see pink going 100% possibly.
In general I hate anything with this much market cap/coins/float (stocks). It's ALL dictated by big money because the chances retail moves anything over 1 billion is about 0.0%.
SHIB has the hype, but definitely a horrible market cap/tokens available. Let me start off by stating the obvious. SHIB could cure cancer, but if BTC/ETH are tanking it will tank also. This is one of the biggest reasons I tend to stay away from Crypto entirely. With that being said I do trade some in high retest areas where SHIB is now. So before you think you have the perfect setup as always check father bitcoin and mother ethereum, because if they go down you go down with them.
Color predictions
Green (unlikely) - BTC would need a big reversal from tanking, in theory this is a high retest and definitely should/would move most stocks. However... I think big money doesnt want it to bounce here I really don't see SHIB getting past that pink resistance line so definitely would be a solid profit and might be a wave 1 hit and might pass it later on. Still I think overall green isn't going to work unfortunately. Too many coins not enough profit/risk on big money.
Orange/Yellow (most likely) - Makes tons of sense to bounce on retests here 32-24 range it's up to you to decide where and be patient/watch big money and obviously watch BTC/ETH etc.
Pink (unlikely yet, but if it got there a massive bounce) - Pink would be a banger on that retest. I could see pink going 100% possibly.
In general I hate anything with this much market cap/coins/float (stocks). It's ALL dictated by big money because the chances retail moves anything over 1 billion is about 0.0%.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.