Helical_Trades

SHIB/USDT : Where should we sell our SHIBs ?

Short
BINANCE:SHIBUSDT   SHIB / TetherUS
BINANCE:SHIBUSDT
Hello everyone 😃
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#SHIB has broke above the $0.00003484 resistance zone and retest it, Then it showed a bounce near to ATH .

📌 #SHIB may see a pullback by almost 25%–35% 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 !


🔰 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 ..


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