SHIB - NOW BATTLING ITS 50! What's Happening Next?
Beautiful Wednesday Morning, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
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.
==============================
SHIB reached the Blue Horizontal Bar and found resistance along with its 50D MA.
So what's next?
SHIB could again retest that Blue Horizontal Bar and when it gets rejected could go sideways (consolidate for the time being) prior to another move.
SHIB breaking the Green Horizontal Support Bar could push price down toward 2060 to 2020. Final support level is at 1700 and going past that could trigger a landslide and possibly decimate SHIB.
However, if SHIB manages to break above the Blue Horizontal Resistance Bar, then the next structure to watch out for is the Red Descending Resistance Trend Line.
MACD: Bullish Divergence has yet to be fulfilled.
Stoch RSI: Huge Upside Potential
Always remember to place your Stop Loss.
Price action is KING!
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.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
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.
==============================
SHIB reached the Blue Horizontal Bar and found resistance along with its 50D MA.
So what's next?
SHIB could again retest that Blue Horizontal Bar and when it gets rejected could go sideways (consolidate for the time being) prior to another move.
SHIB breaking the Green Horizontal Support Bar could push price down toward 2060 to 2020. Final support level is at 1700 and going past that could trigger a landslide and possibly decimate SHIB.
However, if SHIB manages to break above the Blue Horizontal Resistance Bar, then the next structure to watch out for is the Red Descending Resistance Trend Line.
MACD: Bullish Divergence has yet to be fulfilled.
Stoch RSI: Huge Upside Potential
Always remember to place your Stop Loss.
Price action is KING!
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.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
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