Shib
At critical reistance again this 11.40-11.75 area is absolutly massive. Although we have a potential of a bullish ascending triangle built here that could
Cause for a very big breakout, we have struggled at this level so it’s time to pay close attention. If we fail to break and hold a full daily candle open and close above 11.40 we could be in a bearish pattern. It’s really hard to decide which way we will breakout here
Off moving averges we have the 50 ema crossing down here which could push price downward to break down here. We have potential bearish daily divergents showing up here but not confirmed.
Now we also have the 21 weekly holding price up curling upwards while the 50 ema on weekly
Is above price curling down pushing against price as reistance but if we can clear it and control above it that could signal a large move up. Howverr if we fail again this could be a push down.
It’s really challenging for me to really pick a drieecfion which makes me think a push above 1150 and backtest and hold on a smaller time frame is probably the best way to play this on upside breakout.
If your bearish here or undecided you could play the short end of the reistance and short vetween 1150 area and stoploss above 1170 or so
Be cautious but be ready
Cause for a very big breakout, we have struggled at this level so it’s time to pay close attention. If we fail to break and hold a full daily candle open and close above 11.40 we could be in a bearish pattern. It’s really hard to decide which way we will breakout here
Off moving averges we have the 50 ema crossing down here which could push price downward to break down here. We have potential bearish daily divergents showing up here but not confirmed.
Now we also have the 21 weekly holding price up curling upwards while the 50 ema on weekly
Is above price curling down pushing against price as reistance but if we can clear it and control above it that could signal a large move up. Howverr if we fail again this could be a push down.
It’s really challenging for me to really pick a drieecfion which makes me think a push above 1150 and backtest and hold on a smaller time frame is probably the best way to play this on upside breakout.
If your bearish here or undecided you could play the short end of the reistance and short vetween 1150 area and stoploss above 1170 or so
Be cautious but be ready
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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.
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.