AlanSantana

✴️ Shiba Inu Breaks Out; 542% Potential To New ATH!

Long
AlanSantana Updated   
OKX:SHIBUSDT   Shiba Inu/Tether
Shiba Inu's major bullish breakout this week brought in the highest trading volume weekly since late 2021. The previous bull-market bull-run phase.

Looking at this type of action, the first time volume goes so high after so long, is indicative that a new market cycle is getting started. The super high volume is supported by a very, very strong RSI.

The chart is easy.
This is easy.
This is not speculation, basically we are just reading a chart as we would read a book.

➖ Shiba (SHIBUSDT) is set to move forward.

We have two targets and while I would love to say "long-term" I think they can both hit mid-term. Within 1-3 months.

👉 The first target is set at 0.00005655 for 158%.
👉 Second target is a new All-Time High at 0.00014033 for 542%.

Now, the second target is not the end... We will see more and more and more; more growth, more profits, more fun in 2024 and beyond.

Thank you for reading.

If you boost, I know you enjoyed the content and I can continue to publish more.

Feel free to follow.

Thanks a lot for your support.

Namaste.
Comment:
Bullish action is really strong and we have great growth so far. A Fib. level (0.382 - 0.000036567) has been hit which is resistance but the week is only starting and this is the weekly timeframe.


👉 There is room, space and time available for additional growth.
(If you are holder, hold strong! But do plan a "selling for profits" strategy.)

Namaste.
Trade closed: target reached:
Highest daily volume and huge red candle can signal that the party is over.

The RSI is overbought. Watch-out, it can drop.
Comment:
This is what is called a "shakeout" or "dead-cat bounce," do not get trapped, the correction/drop will continue.

Stay safe.
Secure profits.
Be grateful.

Namaste.
Comment:
This is the daily timeframe and we still have a top signal.

Here SHIBUSDT is saying not likely to go higher.
That's the daily.

Each timeframe will give you different signals/information.
One timeframe can be bullish while another can be bearish while another can be neutral.

It is a bullish bias with bearish potential.

Now, here is the weekly: It has less than two days to close. This is long-term so the information we extract is different.

The volume breakout is good and this can indicate the start of a new bullish cycle.
The close is yet to happen so we don't know if additional growth or correction; short-term, daily, it shows potential for a retrace but this can vary on the bigger picture.

The weekly chart is saying that SHIBUSDT is waking up for a long-term bullish cycle but the initial breakout might be in.

And so we comeback and glance at the chart when we want updates/new data.

4H is a short-term timeframe and is showing some bearish potential.

Thank you for reading.
Your support is truly appreciated.

Namaste.
Comment:
Shiba Inu remains bearish on the daily timeframe:
I think we can confirm the weekly bullish breakout to be in.
The next high will only happen after a period of "rest," consolidation or correction phase.

Still long-term growth based on higher highs and higher lows.

Namaste.

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