SHIB - SHOWING AWESOME PRESSSURE RELEASE! What's happening next?Happy Money Monday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
This is merely trading opinion and not advise. DYODD.
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SHIB has showed very strong momentum releasing all its pent-up pressure like a volcano erupting spewing lava everywhere!
But what's happening next?
A. SHIB is now faced with resistance which was previous support back on the 21st of Nov. 2021 @ 3560. Pushing past this level could bring SHIB towards the 38.2% Fib above @ 4448.
B. Getting rejected at the 3560 could push SHIB back down towards the 50MA, and further push downside could meet its 12MA again.
MACD: About to cross the zero level, bullish divergence has not yet been fulfilled.
Stoch RSI: Oversold Region, Bullish Crossover!
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
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More power to all your trades, my friends!
Ron
Intrepid_Trader