Shiba pennantMight break down like before. Two previous triangle patterns broke down before. RSI trending down from oversold. I expect a squeeze with very tight candles first.
SHIBUSD trade ideas
Bullish pennant Continuation flag. 4 hour chartAfter Shiba Inu's massive 60% pump, following in bitcoin's bullish footsteps... We are now forming a bullish pennant on the 4-hour chart.
The chances of another break out to the upside are relatively high.
I'm pretty bullish on this, considering the MACD is showing weak bearish momentum and near convergence.
We are also above all important moving averages. the 25, 50, and 100 day EMA. As a side note.
Our next target should be around the 0.00004 level.
Shib to the moon!
SHIBAUSD Possible Long If???Shiba has recently had a large run up, which I consider healthy after such a long downtrend. I would start considering a change of trend when the price crosses the current resistance (32.65) (Hopefully on a good volume), considering that the chart is also resembling a bullish triangle with decreasing volume. In my opinion, SHIB will still correct a bit up to touching the 9 MA, around the 38.2% level of the Fibonacci. After that, if Shiba breaks 32.65, buying pressure could probably push the coin higher.
Note, all this analysis is useless if SHIB reverses under the 9 MA on high volume as this could be a fakeout for funds to try and liquidate some of their long positions.
NOT FINANCIAL ADVICE!
SHIB showing possible shorts.Well, I sold some earlier and glad I did, I see this getting messy here with an overbought daily. ALL these markets are doing strange things, and this is pure speculation but definitely a possibility to see by the weekend.
No overnight breakout.As predicted, the price bounced down.
Let's see if the consolidation sparks some bull buys this morning.
Shiba Inu Price Prediction: Sideways between 2944 and 3532How did Shiba Inu price perform yesterday?
The dogecoin killer consolidated within Elliott Wave 4, following a bounce off the 38.2% Fibonacci retracement target of the corrective wave at 0.00002944.
TA wise, what can we expect from SHIB today?
The Shiba Inu price is likely to continue the sideways move between the tested support at 0.00002944 and 0.00003532, the Elliott wave 5 validation level. The preference is for an upward resolution towards 0.00003989/ 0.00004071.
Alternative, a daily close below 0.00002944 is likely to lead to a deeper pause to the 50% retracement support at 0.00002775.
FA wise, what can drive the price to the anticipated targets?
An anticipated upward drive towards the target at 0.00003989/ 0.00004071 could be driven by a successful take up of Shiba Lands, a new initiative by Shiba Inu developers to enter the metaverse and claim market share against rivals Axie Infinity, Sandbox and Decentraland.
Shiba EWThey everyone... it looks like Shiba is finishing up a correction before heading for fresh lows.
trade safe,
Devin
Overnight retraction in price expectedIf this follows the same pattern of bouncing down off the trend resistance, we will see an overnight drop. Great for a morning USA bullrun.
Bulls currently being held back by the downard pressure. The bulls are currently held back by the downward pressure from the ATH. The problem is that there isn't a very solid floor between this price and the ATH. Large upward movements like this are not desirable as the lack of support will almost certainly be answered by massive consolidation. Currently, so many people are looking to exit their positions that any upward movement in price is going to be incredibly difficult from here out. If L2 actually happens, the potential is that this lack of support will no longer matter. If L2 delays into the end of 2022 then this could be a rough ride for everyone as we return to early 2021 prices. If this happens, I will change my position from long to short as nothing will convince me this wasn't a rug-pull.
SHIB by AcroScopicsFrom the last low @ .00001700, waves 1 & 2 may be over, and price may be in wave 3 Up, that is happening in 5 waves.
It is possible that wave 3 of 3 of 5 may be complete and that wave 4 down may be complete.
I've drawn in a 5-wave impulsive wave count just for wave 3 Up.
It is possible that wave 5 Up will sub-divide into a 5-wave impulsive wave and that we are just started wave 1 Up of 5 Up of 3 Up.
(If anyone can tell me how to add sub waves to existing waves on these charts, I would appreciate it).
I've placed two directional arrows, the first at the green resistance line where price currently is.
It's hard to know whether price is in an ABC corrective wave or a 1-5 impulsive wave until action after the 3rd wave, either 3 or C is finished.
The length and strength of what I am calling wave 3 Up of 3 Up was quick and long... suggesting a wave 5 Up will come after wave 4 down is done.
I've put in another possibility that this current wave up is only the B Up of an ABC corrective pattern for wave 4 down.
Price has retraced right to the 38.6% Retracement Line, which can be an ideal launching point for the next up wave to exceed the preceding high.
The 2nd set of directional areas is going to either be resistance or the level price needs to exceed to really put the wave 5 question to rest.
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SHIBA INU : PRICE IS READY TO EXPLODE - PRICE ACTION - LONG Hello Everyone, I hope you'll Appreciate our Price action Analysis !
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Shiba is on the move again! Let's talk trade strategy.
Shiba is on the run again. Should I enter here? If not, then what am I waiting for? Shouldn't I be afraid of missing out?
SHIB next stop... 40Looking at the indicators and previous support/resistance levels, 40 should be the next target for SHIB.
Wave 5 still has a lot of room to pump and MACD/RSI/Squeeze has risen very high previously. SHIB should at least target the 50% fib (near 53); There should be a higher ceiling this phase for SHIB though.
Good Luck
SHIB on verge of breakoutSHIBA Inu is at it again and this could be a very interesting pump, lots of money flowing into SHIBA. Basically another flag consolidation is what I am seeing. NFA, DYOR
SHIB - SHOWING AWESOME PRESSSURE RELEASE! What's happening next?Happy Money Monday, Traders!
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Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
This is merely trading opinion and not advise. DYODD.
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SHIB has showed very strong momentum releasing all its pent-up pressure like a volcano erupting spewing lava everywhere!
But what's happening next?
A. SHIB is now faced with resistance which was previous support back on the 21st of Nov. 2021 @ 3560. Pushing past this level could bring SHIB towards the 38.2% Fib above @ 4448.
B. Getting rejected at the 3560 could push SHIB back down towards the 50MA, and further push downside could meet its 12MA again.
MACD: About to cross the zero level, bullish divergence has not yet been fulfilled.
Stoch RSI: Oversold Region, Bullish Crossover!
Price action is KING!
Always remember to place your Stop Loss.
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Develop an intuition and listen to your instinct while following the rules putting emotions aside.
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the balancing is controlled by the subconscious part of your brain.
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Intrepid_Trader
Shiba Inu USD TokenThings are coming around after the absolutely sure 100% dbl test of recent past lows, 2 sessions back to be exact. This is the current sentiment @ this time/space. The retrace going up will be a ride. Looking forward to new highs coming forward for Shiba Inu... Up Up and Away....
SHIB: A Roundtrip! Now What? CHASE IT!!We just poked through the MA200 YAY! In the short-term the Choppiness Index fell very low which means that a direction or trend has been chosen (duh lol). However, the RSI is now very high which means that it's overbought (on lower time frames). Feel free to suggest any other indicators that you like to use... Thanks for any comments or guidance, we are here to learn and profit.
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EDUCATION:
"The Choppiness Index (CHOP) is an indicator designed to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). The Choppiness Index is an example of an indicator that is not directional at all. CHOP is not meant to predict future market direction, it is a metric to be used to for defining the market's trendiness only. A basic understanding of the indicator would be; higher values equal more choppiness, while lower values indicate directional trending." www.tradingview.com
Bounce back above level of support.The price bounced above the downward pressure since ATH. Downward pressure line is reset. Price being held for now. If it break through again, there could be a significant pump.
More likely, a correction from yesterday will occur as the level of support gets tested again.
No historically solid level of support exists between here and the ATH.
SHIBA INU Buy after the trendline breakout and then retest it again. Note This my personal opinion to take trade. I am not financial adviser trade at your own risk. Happy trading:)
SHIB Continuation Up To .000033?Shib Inu is looking awefully bullish and I think MAYBE we can see continuation, man this would be amazing to see it hit the 1.618 or higher to say .000033 which is the extrapolated move of the presumed bull flag. NFA, DYOR
Testing the 50dmaTesting the 50dma. I would wait to see how it responds in the following days. Could be premature to enter here.
