This chart is a tossup for me. However, I lean bullish here.
To me, it looks like CRYPTOCAP:SHIB has 1 more leg higher to go before turning bearish over the short term.
As you can see on the chart, price has held that bullish trend line. RSI is completely bottomed out on lower timeframes which to me indicates a move higher needs to happen before price can fall...
After a strong bullish move and a deep pullback looks like time for at least a minor trend reversal with high2 and lower low trend reversal buy setup, expecting a move up!
NFA
Theres a pennant forming on the 1 hour chart for SHIB.
Zooming out to the 4 hour chart, it does look very neutral. But if the price action can get above the ichimoku cloud on the 15minute and the 1hour chart, things could definitely take off.
Must be patient with this. If bitcoin nukes down then im sure this will kick in. Stop back inside this resistance that it broke from. Looking for the retest of the downward resistance and/or the old horizontal price resistance.
Depending on where you take the swing low from, the fib retracement gives so good confluence here also.
This count is based on my assumption so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
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Here we have our Crypto SHIB chart.
After a huge rally up we are seeing the first of many larger pullbacks.
Now further off our MA's we are looking to get long as price falls.
Stochastic oscillator is low down and we are moving off further from our MA's.
Targets are defined by directional arrows.
Hello all,
The past few weeks the price has been consolidating in the falling wedge pattern after breaking out of the triangle pattern. Also it has reached the midterm structural level. Thus there are really good odds for a successful long position. If we calculate the TP proportionally to the previous ATH from the triangle pattern, the price could reach...
If shibusd breaks this 4h demand zone that has been tested multiple times, which is possible, price could easily head down to weekly/daily demand that I have marked on my chart. Which would be a decent buying opportunity
* Shib is moving in a parallel channel creating Higher-highs and Higher-lows.
* In order to continue the bull rally Shib needs to move within the channel or should break the above trendline
* After a major bull run Shib forms a Symmetrical triangle pattern respecting the below trendline as support and above trendline as resistance for the price.
* In order to continue the bull rally Shib needs to break the upper trendline and price below the lower trendline is bearish.
