rudcharts

SHIB 1/16/2022

Short
COINBASE:SHIBUSD   SHIB/USD
After making some folks a lot of money and a lot of hype following, SHIB has cooled off.

Daily Chart Analysis

After breaking out of an ascending triangle , SHIB made a 180% move in 5 days topping out at 0.00008880.
From there we saw a series of lower highs into support level @ 4845.
In Nov ’21, it broke down from support, pulled back and turned support into resistance.
It has been in a downtrend since.
Downtrend looks to be strengthening and its looking to respect 20ema. Price has pulled back to 20ema. This is my que to enter.

Entry: 0.00003
Stop loss: 0.00003441
Target: Trail 10ema
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