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Shibusd

SHIB forming a bigger falling wedge! Keep an eye on this!Here's a quick Look at SHIB 8 hr chart. As we can see, the price has been forming a bigger falling wedge and we could see a break to the upside soon! Keep an eye on this falling wedge! The best entry would be, when the price breaks above the falling wedge with good amount of volume . ------------------------------------------- The idea is: Buy when the price breaks above the falling wedge and take profits at the levels shown in the chart. Targets: 1. 0.0000452$ 2. 0.00005$ 3. 0.0000562$ 4. 0.0000625$ 5. 0.000072$ 6. 0.000081$ ------------------------------------------- What Is a Wedge in the context of trading?: "A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts. Key Takeaways for Falling wedges: 1. Wedge patterns are usually characterized by converging trend lines over 10 to 50 trading periods. 2. The patterns may be considered rising or falling wedges depending on their direction. 3. These patterns have an unusually good track record for forecasting price reversals." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Long
by MBM_Crypto
8
SHIBUSDT , Until this time the trend is upwardHello everybody According to the chart you can see that the price is ranging in correction wave and we think the price is ready to make a triangle and if this happen the momentum of downward is becoming weak and the price have the power to go up and reach to the resistance , and if first resistance break ( red box ) it can go up more and reach to the second resistance . In here is one of the most important support level , and we expect the price can support in here and can go up to the next resistance Previous analysis : Good Luck Abtin
Long
by Abtin00
SHIB Shiba Inu Possible Downward TargetHello friends, today you can review the technical analysis on the 1D linear scale chart for Shiba Inu ( SHIBUSDT ), a altcoin cryptocurrency. #CryptoPickk noted in the chart: 1) The Shiba Inu price is currently in a Descending Channel Pattern (or Descending Wedge Pattern) since October 28, 2021. 2) The channel has been tightening over the period of a month and currently testing a major support area where the price met an all time high in early May 2021. This is outlined by the blue dash horizontal line. 3) Though a descending channel or descending wedge pattern is considered bullish, the price may still have room to drop as the entire cryptocurrency market is down with potential for more downside as Bitcoin has potential to go lower still. 4) In May 2021, when the price hit the All Time High, it corrected 83%. This time, the price may be supported by the 100 MA (orange line), which is also sitting around support areas from the prior consolidation (green dash line). 5) From the current All Time High price to the 100 MA, the price would correct about 70%. From the current price point to the 100 MA, the price still has potential to correct another 30% (green dash line). 6) The RSI ( relative strength index ) is not oversold yet and has been moving in a descending channel as well. I noted three other RSI similar trends with the oval shape showing the breakout of the trend. 7) The Stochastic RSI ( Stoch RSI ) is coming out of the oversold region but has potential to hover there for a bit longer similar to the prior periods shown in oval shapes. 8) The Volume has picked up recently but not enough to have a breakout or breakdown yet. 9) Since it is a descending channel or descending wedge, there is a higher probability to break to the upside but current market conditions may provide otherwise. Keep an eye on Bitcoin and Ethereum. 10) Lastly, this is Shiba Inu, so anything is possible. :) What are your opinions on this? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
by MillionaireEconomics
6
Shib about to go to the moon or moms basement?? I say Moon!!!!!!Whats going on everybody... I'm not exactly one to write words on a chart, but I couldn't hold back.. As with any currency or trading pair, you can see how well the institutional trading style is being traded here. The issue at hand though is that we have so many people that sell off or go short with false patterns and what happens?? LIQUIDATION!! Many people take sell off to buy other currencies, but with Shib the common issue has been FUD, I feel like Shiba Inu gives everyone a slice of the pie, but what price does that come with?? The price = a lot of inexperienced traders that cry when they lose $5 and think their investment has gone down the drain.. everyone is looking for a quick buck, and it's cool.. but it wont make you rich.. I mean let's be real, unless the rug gets pulled, do you really lose?? The way people rush to sell shib reminds me of how people rushed to sell their BCC tokens a few years ago when they actually did pull the rug lol... Anyways, we are at a key area, I'm remaining bullish :) Reasons... 1. We crossed one million hodlers 2. New Egg partnership announced just waiting on details 3. Just announced a Director for the new Shib Game that's being developed(worked for Activision so that's dope) 4. Strong Support 5. Harmonic Pattern for short term gains which could set the trend for a new wave Theres only one reason we are really seeing bearish movement and it's because trading bot's are driving down the price and all the inexperienced traders freak out and sell... then they get, you know... Liquidated.. Happy Trading, hope you are all buying the dip like I have! See you in the next one.
Long
by A1Millionaire
8
SHIB Finds Support Off Key Fibonacci 0.618 LevelAlright, In my last post I held a neutral stance because Shib approached a key a Fibonacci Retracement Level of 0.618 (or .00003798). I said that if it bounces off this level that this may signify the bottom and would be a good entry point. Since then, it has bounced off the level with strength and came back down to test support at 0.618 retracement level. With the recent selloff of nearly everything earlier, this level held support very well and could be regarded as a key support level. I'd also consider this area a key accumulation zone and would try to accumulate anything in the .000037 - .000039 range. Now that support is confirmed of multiple tests at that level you may look to the Fibonacci Extensions Level as likely target price levels. Most of the time, at these Fib extension levels, you can see price action momentum stalling out, consolidation, or even a reversal. So these levels are key levels to watch in the uptrend. At the moment, I'd close any short positions and open long positions in accumulation zone near the 0.618 retracement level. Technicals: The Momentum indicators don't show much change on the daily due to the selloff earlier but the 8 and 12 hour ChandeMO indicator crossed the 9-day Moving Average. This is usually an indicator of positive momentum prior to a rally. This would solidify my going long stance further. Good luck and Happy Trading.
Long
by Trillah
8
SHIBUSD with a trading lessonFor more expert analysis and trading lessons on a daily basis, make sure you follow me! Here we have our updated SHIBUSD Chart. After the long target set in our last chart, we can take this time to go over a lesson in trading. Assets like SHIB and many other coins are highly volatile as they are new. This hype causes large fluctuations in price. If you are going to buy any coin, do not do so AFTER they have risen so high in price. You pay too much and therefore get a bad deal. We want to buy when price dips down.. its a much better deal.
Long
by WillSebastian
10