Shiba's price action is similar to DOGE when it first started getting hyped. However, I do not believe the hype will last over the years.
From an Elliot Wave POV, SHIB is currently in grand wave 4/5, and I believe there is room for one last pump. Grand wave 4 will probably be a flat consolidation over the days when the bottom is made. My wave count gets invalidated if we hit the wick zone. Room to go lower on the Wolfpack and RSI. SHIB is a HIGH RISK play and should be traded with caution. Price targets are predictable and safe if you have a solid risk management (SL) for each level. Entries in demand zone with tight SL for the swing. Trading the weak support zone will require you to be on a smaller timeframe. I have orders at the wick zone in case we get lucky. Stay diligent and good luck!
From an Elliot Wave POV, SHIB is currently in grand wave 4/5, and I believe there is room for one last pump. Grand wave 4 will probably be a flat consolidation over the days when the bottom is made. My wave count gets invalidated if we hit the wick zone. Room to go lower on the Wolfpack and RSI. SHIB is a HIGH RISK play and should be traded with caution. Price targets are predictable and safe if you have a solid risk management (SL) for each level. Entries in demand zone with tight SL for the swing. Trading the weak support zone will require you to be on a smaller timeframe. I have orders at the wick zone in case we get lucky. Stay diligent and good luck!
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Wick Zone hit. Profitable sniper trade!
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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.