Tempted to buy SHIB
Updated
I really dislike coins that make people dumber. This is one example as many people lost money on this one. Some made billions.
There is a clear 1-5 wave count and now it's almost at the 618 fib which usually is a good buying opportunity.
Me personally would rather wait for the 1.618 extension at 0.00002697 as this one sold of bigtime.
If you want to buy before that than around the green line would be my best bet.
Volume is declining, no big divergences yet.
This one will bounce but timing is pretty critical with this one.
I want to see a sign of strength before I dive into this one.
Treat this one with caution
There is a clear 1-5 wave count and now it's almost at the 618 fib which usually is a good buying opportunity.
Me personally would rather wait for the 1.618 extension at 0.00002697 as this one sold of bigtime.
If you want to buy before that than around the green line would be my best bet.
Volume is declining, no big divergences yet.
This one will bounce but timing is pretty critical with this one.
I want to see a sign of strength before I dive into this one.
Treat this one with caution
Note
SHIB bounced from the .618 to the .5 level in a 5 wave structure. It's currently sitting at the .618 support of those 5 waves. Sell volume is low, this is bullish.But being SHIB, I am still careful with this one and would only trade it with very high probabilities.
Breaking above 0.00004687 would be a bullish confirmation for me and I would then buy on a lower time frame pull back.
A break below 0.00003605 will take it to 0.00003528, 0.00003353 or 0.00002697
Note
It broke above 4687 sats and this makes me bullish. Let's see what kind of structure it makes to determine the exit targets.Simple targets are currently:
.382 bounce 5582
.5 bounce 6207
.618 bounce 6832
Takasis from the comments was right
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