SHIBUSDT likely to head down to weekly support around 0.00001026The price is trading below the daily support currently. Let us try a short here as it seems favorable and target the weekly support zone around 0.00001026.
Shibusdttrade
SHIBUSDT to bounce from weekly support towards 0.00001095SHIBUSDT has hit the daily support. However, the weekly support is also sitting very close under this current daily support. A possibility to visit the weekly support level cannot be ignored. I will expect a bounce towards the 4h resistance level around 0.00001095. By the way, if patient, price hitting weekly support will give a better long opportunity.
SHIBUSDT to head for next resistance zone around 0.00001310SHIBUSDT is showing strength after consolidating under the 4h resistance zone. Now the price is trading inside the resistance zone and is likely to head towards next resistance zone around 0.00001310. The price might follow the path L4, S5 and L6 as depicted in the chart.
SHIBUSDT likely to bounce to 0.00001256 from weekly supportThe price has now hit the weekly support. This is major support and we should have a good bounce from here. I expect at least a bounce to the nearest 4h resistance zone around 0.00001256 as a first step.
SHIBUSDT to head higher towards 0.00001374 levelThe price has closed above 4h resistance 2 zone. This shows some strength in the price action and this may lead the price to the next level up. The probability of the price to aim for 0.00001374 level is high.
SHIBUSDT may head for 4h resistance around 0.00001320The price has hit daily support twice and both the times, it had a significant bounce to the next resistance zone. This second bounce currently trying to pierce through the resistance. With a bit of push back, I believe the price is going to move above the resistance zone and may aim for 4h resistance 2 zone.
SHIBUSDT heading towards 4h support around 0.00001290The price is heading towards 4h support 2 zone. It is expected to hit around 0.00001290 before any bounce from that support.
SHIBUSDT may bounce to 1h resistance zone around 0.00001343So the price now is bouncing from the 4h support 1 area. How about trying to hit 1h resistance zone marked on the chart. I see the probability of this event higher than the price going the other direction immediately.
SHIBUSDT likely to head for suport zone around 0.00001320SHIBUSDT seems like heading for 4h support region. It clearly got rejected from 4h resistance 2 zone after the breakout
SHIBUSDT likely to make another attempt at 4h resistance zoneThe price has hit the 4h resistance 2 finally as marked on the chart. However, it seems that pushed the price back under the resistance and it is trading below the resistance. There is a very high probability that it will make another attempt to hit and break this resistance at around 0.00001400 level
The previous 4h resistance (marked in chart as 4h resistance 1) is now acting as support and that made the price bounce from there on this push back from 4h resistance 2.
SHIBUSDT heading for next 4h resistance zone around 0.00001320The price has closed above the 4h resistance which was holding the price back for long. This kind of clears the way for move up to the next resistance zone. That resistance might not be that strong and price can then head for the next resistance level marked on the chart. A possible price path has been depicted. However, let us go step by step and then do the reevaluation of the next possible path. Therefore let us focus first on step L1.
SHIBUSDT to hit weekly support before a bounceThe price is likely to hit the weekly support level before a bounce. The bounce will very likely meet the 4 resistance area around 0.00001276. The price will be pushed back from this resistance very likely.
SHIBUSDT heading again to tested 4h supportAs mentioned in the last post, the price hit the previous 4h support level and and got rejected from there.
It is likely that it will touch the 4h support region again.
SHIBUSDT hitthe 4h support area. Bounce in playSo the price hit finally the marked support area. And we see a bounce which was depicted in the last post.
The price will likely hit the 4h resistance at 0.00001476 level. The next course after the price hits that level will be decided by looking at the price action at that level.
SHIBUSDT current 30m candle to be red oneThe current 30m candle (UTC 10:30-11:00) has a higher probability of being a red one.
SHIBUSDT current 4h candle higher probability to be red oneThe current 4h candle (UTC 08:00-12:00) has a slightly higher probability of being a red one.
