Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
I don't want to make a bad analysis about Shiba, which is a very energetic meme coin with buyers and big whales, but it needed a correction a long time ago. Anyone who drew a trend line knew this easily. But the good news is that once the fall is over, it can be a fast start again. Analysis: because the price has been broken, a fall has occurred, and if it breaks...
1D time frame - SHIB creating a daily triangle structure. We can set a great trade with perfect RRR here. Try it with tolerated margin!
Everything is clear in the chart. This is not a financial advice
The price has come back to the 4h support zone. It is likely that price will move up and aim for the daily resistance again. The target for the long if filled should be 0.00001116.
This triangle correction is at the end and this price is good for buying. Maybe another impulse wave and making$$$$. So becareful about this shit coin.
The weekly support is defending the price very well. The first dip to this support produced a strong bounce and then price retraced to this support again and again and every time the price has bounced from this support. This suggests that the price may aim for the daily resistance from here.
Price has hit the weekly support and expect a bounce here and aim for the resistance zone above. A long is favorable here.
The last trade was closed without profit and the price bounced and moved up as expected but remained a bit short of target. Now the price has fell again back to weekly support and a long is favorable here. For a bit better and conservative entry long it when price dips below the weekly support.
SHIBUSDT has hit the daily support. However, the weekly support is also sitting very close under this current daily support. A possibility to visit the weekly support level cannot be ignored. I will expect a bounce towards the 4h resistance level around 0.00001095. By the way, if patient, price hitting weekly support will give a better long opportunity.
The price was rejected from the 4h resistance and have now hit the 4h support area. I expect this support to provide enough bounce to the price to aim for the 4h resistance zone again.
The price has found support at weekly level once again. Though it has been tested several time, I am inclined to give it one more chance and expecting the price to bounce again here at least to the next resistance zone which I see as 0 00001207. But thas not very prominent one and the price might see a bit of pullback there but will then head to 0.00001226. And if...
The price has hit 4h support zone. I would expect the price to bounce from here and lead us to at least 0.00001268 and probably upto 0.00001276 level. This is again trade against the local trend and that is why the gain as well as the loss possibilities are narrow.
How about this idea for a quick scalp of 1.5%-2%. Price has found support on the previous 4h resistance turned support zone. The price might follow through after that but lets focus first on this scalp and then we will see how we go from there if we achieve that target.
SHIBUSDT is showing strength after consolidating under the 4h resistance zone. Now the price is trading inside the resistance zone and is likely to head towards next resistance zone around 0.00001310. The price might follow the path L4, S5 and L6 as depicted in the chart.
The price has now hit the weekly support. This is major support and we should have a good bounce from here. I expect at least a bounce to the nearest 4h resistance zone around 0.00001256 as a first step.
The price has almost hit the smaller time frame support just sitting above daily support. It might still go and touch that support. But after that the price shall very likely follow the path L5 as shown in the chart. This definitely will make a case for visiting the 0.00001276 level once again which was the target of the original post.