🚀SHIB: trendline breakout and THEN...!
Hi friends! Shiba could create a great pattern to open a long. Even in spite of the lack of volume.
✅On the volume indicator, we see the buyer buying the bottom of the Shiba for 3 times. This is a good sign for a possible local growth.
📊With the price returning to the trend line and squeezing under it we may see a breakout with targets:
$0.144 - local highs, which the price has not yet tested
$0.1618-0.17 - the first value zone
$0.2-0.21 - the second value zone.
🚩With such a market, there's no need to hope for reaching the second value zone. Altcoin is getting weaker relative to Bitcoin, dominance is growing. The fact that the price reaches the first value zone will already be an achievement.
But that means that you should only look for the best opportunities with RR 1:5-7 and not trade everything in a row, especially if you are beginner.
✅Also, a short trade is also possible. Pay attention to the volumes at the top a few days ago, after which the price dropped. Someone sold on the highs. Therefore, we can wait for a false breakdown of the trend line, with the volumes rising again, which will indicate the presence of a big seller. The local low of $0.914 could be the target for the downward movement.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
✅On the volume indicator, we see the buyer buying the bottom of the Shiba for 3 times. This is a good sign for a possible local growth.
📊With the price returning to the trend line and squeezing under it we may see a breakout with targets:
$0.144 - local highs, which the price has not yet tested
$0.1618-0.17 - the first value zone
$0.2-0.21 - the second value zone.
🚩With such a market, there's no need to hope for reaching the second value zone. Altcoin is getting weaker relative to Bitcoin, dominance is growing. The fact that the price reaches the first value zone will already be an achievement.
But that means that you should only look for the best opportunities with RR 1:5-7 and not trade everything in a row, especially if you are beginner.
✅Also, a short trade is also possible. Pay attention to the volumes at the top a few days ago, after which the price dropped. Someone sold on the highs. Therefore, we can wait for a false breakdown of the trend line, with the volumes rising again, which will indicate the presence of a big seller. The local low of $0.914 could be the target for the downward movement.
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Get access to the private club with VIP signals
👉 bit.ly/vip_bikotrading
🔷Telegram 👉 t.me/+ICrmLIneDmRiYjIy
🔷YouTube 👉 bit.ly/YouTube__Lessons
👉 bit.ly/vip_bikotrading
🔷Telegram 👉 t.me/+ICrmLIneDmRiYjIy
🔷YouTube 👉 bit.ly/YouTube__Lessons
Related publications
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.