After breaking through trend resistance, SHIB found new resistance at the 200 EMA. Now it has retraced a bit and is possibly creating a Higher Low at these levels. Combined with what looks to be bullish divergence on both the daily and 4-hour charts, I'm feeling good about the Higher Low holding--and would signal a possible breakthrough of the 200 EMA. I'm interested in taking a small position here.
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!
Comment:
Correction: SHIB first found resistance at the 50 EMA, was rejected, and is now under the 100 EMA. We are currently *above* the 200 EMA and it is likely to provide support should the Higher Low fail.
