scenario 1,
Personally i think shib price might go up to the supply zone and at around 0.000050 and either do a deep retracement or potentially continue liquidate the 0.00002825 lows. If 0.00005434 get invalidated, then i will be shifting bullish, looking for continuation of price to new high.( expect price decide to do a stop hunt)
Many people overlook that we are still bearish short on lower time frame until the 0.00005434 gets invalidated. Hence we are still gona expect new lows to continue forming.
scenario 2(the black arrow),
if price continue taking out the lows without continuing higher it would form a wyck accumulation where we would expect the spring at 0.000026 which also mitigate the demand zone for price to continue its bullish run on the HTF. where all the SUPPLY ZONES ABOVE would at as liquidity for price to move to new high.
SO HOW CAN WE TRADE?
1. if price reach 0.00004124 supply zone, i will look strong displacement to the downside (leaving behind imbalances), then look in lower time frame supply zone to enter the short position.
2. if ^ fail, the 0.00050 supply zone would be the next POI TO GO SHORT
3. if both ^ fail and there is a strong displacement to the upside, we would shift our bias looking for potential new demand zone to continue the bullish action.
4. take long at 0.00002588 demand zone as it is potentially the spring. However this is risky as we are still on a downtrend but yield great RR
The above is my own view on SHIB. OFC SHIB CAN STILL CONTINUE LOWER TO BELOW 0.00002340, TO FILL THE IMBALANCES IN THE DEEPER AREA BEFORE BREAKING NEW HIGHS.
Personally i think shib price might go up to the supply zone and at around 0.000050 and either do a deep retracement or potentially continue liquidate the 0.00002825 lows. If 0.00005434 get invalidated, then i will be shifting bullish, looking for continuation of price to new high.( expect price decide to do a stop hunt)
Many people overlook that we are still bearish short on lower time frame until the 0.00005434 gets invalidated. Hence we are still gona expect new lows to continue forming.
scenario 2(the black arrow),
if price continue taking out the lows without continuing higher it would form a wyck accumulation where we would expect the spring at 0.000026 which also mitigate the demand zone for price to continue its bullish run on the HTF. where all the SUPPLY ZONES ABOVE would at as liquidity for price to move to new high.
SO HOW CAN WE TRADE?
1. if price reach 0.00004124 supply zone, i will look strong displacement to the downside (leaving behind imbalances), then look in lower time frame supply zone to enter the short position.
2. if ^ fail, the 0.00050 supply zone would be the next POI TO GO SHORT
3. if both ^ fail and there is a strong displacement to the upside, we would shift our bias looking for potential new demand zone to continue the bullish action.
4. take long at 0.00002588 demand zone as it is potentially the spring. However this is risky as we are still on a downtrend but yield great RR
The above is my own view on SHIB. OFC SHIB CAN STILL CONTINUE LOWER TO BELOW 0.00002340, TO FILL THE IMBALANCES IN THE DEEPER AREA BEFORE BREAKING NEW HIGHS.