Retrace to 0.000018 or bullish move to 0.00005

١٤ أكتوبر ٢٠٢١

SHIB has formed a some kind of bullish pennant that could break up to 0.00005 in the best scenario.
Other scenario is that it breaks to downside to 0.000018 lowest and consolidates for few more days to start the next leg up.

Daily RSI is too high at the moment and showing a bearish divergence.
Volume is getting lower but currently no huge selloff's , people are waiting for a confirmation on which way it will go.
Daily MacD levels are high and could form a bearish cross that will signal for a downtrend.

The technical overall look bearish at the moment, but knowing Shiba and what it has done before, I wouldn't be surprised for another leg up that would shake out all shorts. But triangle pennant pattern that has formed is usually bullish pattern.

Overall I think it might just consolidate in these next days between 0.000024 and 0.000028

Be careful at this point and wait for a clear confirmation if it breaks up or down today or next few days. Don't fomo in without doing your own research.

Happy trading and good luck to everyone!

١٤ أكتوبر ٢٠٢١

ملاحظة

Shib just touched 180 day EMA and had a small bounce back up, if it keeps up the formation is not broken yet

١٦ أكتوبر ٢٠٢١

ملاحظة

Moving accordingly as charted at the moment. Lets see if it an gather the strength to push up

١٨ أكتوبر ٢٠٢١

ملاحظة

Mowing forwards as planned

١٩ أكتوبر ٢٠٢١

ملاحظة

Shib is currently holding its horizonatal movement and consolidating in range of .23 - .31
A drops to .18 is still a possibility the same as Move to higher levels. Should wait for a clearer confirmation.

٢٠ أكتوبر ٢٠٢١

ملاحظة

Shib is currently taking time to consolidate . I see it mowing upwards in the next days

٢٩ أكتوبر ٢٠٢١

ملاحظة

Targets reached and overreached. This was a massive pump and congrats to those who profited. The next level up is 0.0001 range. But I would be really careful at this moment and personally I have taken my profits and I am out of this trade.
Shib has overperformed the whole October while all market was down, and this i believe is not possible to sustain for much longer as the hype will slow down and all the metrics are showing that it is really overbought at the moment. Enter trade at your own risk. And I would not advise to short it either as the move to 0.0001 might happen too. But at that point it will most likely take a deep dive down.