SHIBUSDT
Hello everyone π
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
#SHIB has broke above the $0.00003484 resistance zone and retest it, Then it showed a bounce near to ATH.
π #SHIB may see a pullback by almost 25%β35% by 5 factors :
- Dubbed the Relative Strength Index (RSI); SHIB crossed above 70 on Oct. 3 and peaked around 94 three days later. Ideally, its overbought reading could have resulted in a price correction.
But SHIB continued its rally as the monthly session progressed, eventually rising over 574% to its five-month high at $0.00004860 on Oct. 26.
- On the other hand, #SHIB's RSI slipped lower, thus creating a broad divergence between #SHIB's price and momentum.
That reflected an underlying weakness in the cryptocurrency's ongoing uptrend, raising possibilities of a pullback in the coming days.
- There's a declining on trading volumes three days in a row (in daily timeframe), thus further validating the SHIB uptrend's underlying weakness.
- #SHIB is reaching the ATH's resistance and it can reject the pair in short-term
- Based on FIB extension's levels and the bullish flag target, #SHIB might reverse it's movement from two points : $0.00005106 and $0.00005536.
The 1st target is the FIB's level and it's near to the bullish flag's target, So we use the gap between this line and ATH's line as a possible resistance zone !
But according to the reserves and active liquidation events; We may experience a leg up to the higher target level for SHORTs squeeze and reverse the movement for further advantages on liquidation events.
It's not a technical view, But because of whales activity on #SHIB, We may experience high volatility movement near/above the ATH !
π° As you can see there are multiple factors that make #SHIB more bearish above the ATH, SO you need to be caution as we are approaching the ATH..
Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
@Helical_Trades
Hello everyone π
Before we start to discuss, I would be glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it !
#SHIB has broke above the $0.00003484 resistance zone and retest it, Then it showed a bounce near to ATH.
π #SHIB may see a pullback by almost 25%β35% by 5 factors :
- Dubbed the Relative Strength Index (RSI); SHIB crossed above 70 on Oct. 3 and peaked around 94 three days later. Ideally, its overbought reading could have resulted in a price correction.
But SHIB continued its rally as the monthly session progressed, eventually rising over 574% to its five-month high at $0.00004860 on Oct. 26.
- On the other hand, #SHIB's RSI slipped lower, thus creating a broad divergence between #SHIB's price and momentum.
That reflected an underlying weakness in the cryptocurrency's ongoing uptrend, raising possibilities of a pullback in the coming days.
- There's a declining on trading volumes three days in a row (in daily timeframe), thus further validating the SHIB uptrend's underlying weakness.
- #SHIB is reaching the ATH's resistance and it can reject the pair in short-term
- Based on FIB extension's levels and the bullish flag target, #SHIB might reverse it's movement from two points : $0.00005106 and $0.00005536.
The 1st target is the FIB's level and it's near to the bullish flag's target, So we use the gap between this line and ATH's line as a possible resistance zone !
But according to the reserves and active liquidation events; We may experience a leg up to the higher target level for SHORTs squeeze and reverse the movement for further advantages on liquidation events.
It's not a technical view, But because of whales activity on #SHIB, We may experience high volatility movement near/above the ATH !
π° As you can see there are multiple factors that make #SHIB more bearish above the ATH, SO you need to be caution as we are approaching the ATH..
Hope you enjoyed the content I created, You can support us with your likes and comments !
Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
@Helical_Trades
π΄ Don't forget to join our channels for FREE Premium stuffs !
TELEGRAM :
t.me/Helical_Trades
Instagram ( Persian - ΩΨ§Ψ±Ψ³Ϋ ) :
www.instagram.com/helical_trades/
TELEGRAM :
t.me/Helical_Trades
Instagram ( Persian - ΩΨ§Ψ±Ψ³Ϋ ) :
www.instagram.com/helical_trades/