Today’s analysis – SHIBUSDT- trading at a key trade location where holding range high is critical for a bunce,
Points to consider, - Price Actin Corrective - Range High Support - VWAP Support - Low Volume
SHIBUSDT’s immediate price action is corrective and is trading at an area that has technical confluence with the Range High/ .618 Fibonacci and the VWAP, allowing for a bullish bias.
The current volume is below average, an influx is highly imminent when an expansion occurs.
The immediate objective is the range high, exceeding this level is likely to lead to a trend continuation.
Overall, in my opinion, SHIBUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
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And remember,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee