Shiba dropped 70% after signal - now potential rise of 143%?
Updated
SHIB dumped 70% (purple price range) after the bear Supertrend Ninja - Clean signals (red vertical line on the background). Now there is a bull signal (green vertical line on the background) indicating a possible bull run to around to 2000 sats (0.382) or 2800 (0.618)) forming Wave 4. Which is about 143% (orange price range) possible gain.
SHIB is still below the the Ichimoku Cloud , which is considered bearish . Currently it is trying to break a resistance area at 1200. The RSI is still in a range/ slightly bullish at 52. RSI Brown at 72. If we take a look at the Average Directional Index ( ADX DI) its indecisive, as it is ranging. Almost horizontal. Currently SHIB is above its Basis Bollinger Band , Band Basis 20 Period SMA . While it is below the LSMA .
In short, SHIB is still stuck in a range on the 2Day chart. Although I am leaning towards a bullish scenario. Since SHIB price and the RSI are still forming a higher low. I do see an Ascending Triangle. Which is a bullish sign as well. Time will tell.
Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
SHIB is still below the the Ichimoku Cloud , which is considered bearish . Currently it is trying to break a resistance area at 1200. The RSI is still in a range/ slightly bullish at 52. RSI Brown at 72. If we take a look at the Average Directional Index ( ADX DI) its indecisive, as it is ranging. Almost horizontal. Currently SHIB is above its Basis Bollinger Band , Band Basis 20 Period SMA . While it is below the LSMA .
In short, SHIB is still stuck in a range on the 2Day chart. Although I am leaning towards a bullish scenario. Since SHIB price and the RSI are still forming a higher low. I do see an Ascending Triangle. Which is a bullish sign as well. Time will tell.
Remember to always take profits and use proper risk management!
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
What Indicators Do I Like To Use:
I am using the "Supertrend Ninja - Clean", which is a trend-following indicator (Green and red vertical lines on the background). When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. And red for possible downtrends.
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