SHIBA - THE NEXT 2-3 WEEKS Hey guys. This IDEA is based off of some recurring patterns I see on the charts using Fibonacci Levels.
Notice after the initial breakout, SHIB usually settles above the 0.618 line before continuation to the upside. Then it forms a short term top around the 3.618 level.
I DO believe a similar situation is happening again and I DO think SHIB has hit a SHORT TERM top. (It may continue upwards in as little as a week or two)
The IMPORTANT THING to watch IF SHIBA DOES PULL BACK is if SHIB can hold itself at or above that 0.5-0.618 GREEN SUPPORT AREA on the chart! That is what will give us the go-ahead to continue higher...
The potential upside target on the chart right now is based off of similar fib levels but zoomed out a bit first. I will be able to more accurately predict targets as time passes and we get some more data.
Until then stay tuned... WATCH THE CURRENT LEVELS for resistance as I DONT THINK we are going higher BEFORE a pullback!
IF THE RED RESISTANCE LINE GETS BROKEN by MORE THAN JUST A WICK then this IDEA is Invalidated and we'll re-evaluate.
I will post updates here as needed or as things change. If I don't post an update, The situation is likely the same or I've been busy. If you'd like an update for any charts just leave a comment and I will hopefully be able to provide al least a short update in the same chart description... If situations change beyond that I WILL LIKELY publish a whole new chart al together.
Hope everyone is doing well. The markets are volatile right now so CAUTION traders and leverage users
****This is NOT financial advice. This is just an IDEA based off my experience analyzing charts and studying crypto. I recommend researching cryptocurrency because of the potential for you to become A BELIEVER of this technology and its future (FUNDAMENTALS ARE WHAT MAKE OR BREAK CRYPTO) IF YOU HAVE THIS, INVESTING BECOMES MUCH EASIER!***
Also I've left a link to my latest BTC analysis below, as much of the market usually follows BTC's lead.
