viilutaja

SHIB at crossroads

viilutaja Updated   
BINANCE:SHIBUSDT   SHIB / TetherUS
If price action can close on 4 hour multiple times above 61.80% fib (0.00006149), then the move back to previous high is initiated.
But if it fails then the 38.20% fib has been a good support so far. Luckily it didn't close 3x in a row on that line or below it, which would certainly move the price to previous low at 0.00004300.

But first the price needs to break through a trendline (purple) and then close above 61.80% multiple times to move again towards previous high's between resistance zone (0.00008100-8500).
If it has closure 3 times above 0.00008500 price, then SHIB will start it's next move to new ATH's
Comment:
If the next 2 candles at 4h close above 0.00005440 (38.20% line), we should go up to 61.8% fib and if that holds then to 100% line.
So far we have 1 candle above 38.20% line in 4H chart. Lets hope it gets 2 friends in next 6hours.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.