SHIBUSDT to revisit the zone around 0.00001239

Let us take another shot on this one. The likelihood of the price being rejected from the previous support region is high. It may revisit the support region around 0.00001239 which is also indicated by the path price may take.

Trade closed: target reached:

We have achieved the target we set for this move. The price has finally hit the target marked with the support level around 0.00001239 level. As expected the price has a bounce from there as first reaction.

The price definitely took a bit of time to reach the target. Sometime it is quick sometime it is slow. And that is where the patience comes into the picture. The price briefly traded above the daily support turned resistance zone for a while but that could not move substantially up and traded there just briefly before falling down inside that support turned resistance zone.

Comment:

Though this idea has been closed as the target was achieved, I am posting new analysis post as part of the comment as I have reached the day limit of published posts. Please follow me on twitter as I will be publishing ideas there more frequently: twitter.com/angela_altair

The price has claimed a smaller time frame support zone. It is also showing some momentum in the price action. It is likely that it will aim for the daily resistance around 0.00001256.