Shib looks like an ABC correction for purple wave 2. So far it's following EW fibs fairly well, keep in mind I didn't make my fibs perfectly exact as shib is a pain in the ass typing in all those zeros. One thing shib has done to be in the past on my charts is since it's a low market cap coin and bullish it fails to retrace. I wouldn't be surprised if it springs up for a "failed Red C" we'll call it and moves onto larger W3.
A couple things I notice right away are on the 1hr the last candle had a bearish top. There hasn't been a lot of volume lately since the last big green candles. RSI also dancing around being oversold. Bollinger band is getting thin indicating a good size move soon. At a glance it looks like it needs to go down a little but then way up. Which couples with the idea I've been looking at about money moving out of BTC and into Alts soon. If the total crypto market cap begins to drop though that idea is nixed.
A couple things I notice right away are on the 1hr the last candle had a bearish top. There hasn't been a lot of volume lately since the last big green candles. RSI also dancing around being oversold. Bollinger band is getting thin indicating a good size move soon. At a glance it looks like it needs to go down a little but then way up. Which couples with the idea I've been looking at about money moving out of BTC and into Alts soon. If the total crypto market cap begins to drop though that idea is nixed.
