SHIB is cruising between strong S/R, a Golden Pocket of Fibonacci Retracement from it's September low, and the 4H Support channel.
If you look at the chart starting from January 20th to February 7th, it almost looks like SHIB attempted an "island" reversal, but didn't quite have the volume to push through the Golden Pocket.
At the moment, SHIB isn't calling for attention, daily RSI and Volume % are nothing to rave about.
For a LONG setup, I'd wait for SHIB to breach 0.618 (~0.00003697) level of the Golden Pocket.
For a SHORT, SHIB should break below Support 4H, then I'd target Support #2 all the way to the bottom.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️
If you look at the chart starting from January 20th to February 7th, it almost looks like SHIB attempted an "island" reversal, but didn't quite have the volume to push through the Golden Pocket.
At the moment, SHIB isn't calling for attention, daily RSI and Volume % are nothing to rave about.
For a LONG setup, I'd wait for SHIB to breach 0.618 (~0.00003697) level of the Golden Pocket.
For a SHORT, SHIB should break below Support 4H, then I'd target Support #2 all the way to the bottom.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️
