SHIB - BEWARE THE F.O.M.O.
Updated
Hey everyone just a quick update here. I just want to say SHIB did end up getting above the 0.618 from the last chart (link below) so I DO think higher targets will be coming, HOWEVER as of now I THINK it will be around November.
I expect some sideways price action for a bit.
The red 0.618 retracement level is what you want to watch for. IF SHIB can break above that for more than a wick then we can start looking for another breakout!
Beware the FOMO and RESIST THE TEMPTATION to buy right when SHIB is at the resistance line. I highlighted 3 spots where people commonly make that mistake of buying too early.
Have some patience, and think logically, NOT emotionally.
Notice there isn't an increase in volume which is what we want to see for a breakout.
Also notice the RSI resistance... We want that to break.
FOR DOWNSIDE POSSIBILITIES watch the 0.000067-0.00006 area for support! ... If that breaks, have CAUTION and watch the 0.000055 area which is a really important level WHICH I DONT THINK will break or even be tested again but we'll see.
Hope everyone's good. Take Care
I expect some sideways price action for a bit.
The red 0.618 retracement level is what you want to watch for. IF SHIB can break above that for more than a wick then we can start looking for another breakout!
Beware the FOMO and RESIST THE TEMPTATION to buy right when SHIB is at the resistance line. I highlighted 3 spots where people commonly make that mistake of buying too early.
Have some patience, and think logically, NOT emotionally.
Notice there isn't an increase in volume which is what we want to see for a breakout.
Also notice the RSI resistance... We want that to break.
FOR DOWNSIDE POSSIBILITIES watch the 0.000067-0.00006 area for support! ... If that breaks, have CAUTION and watch the 0.000055 area which is a really important level WHICH I DONT THINK will break or even be tested again but we'll see.
Hope everyone's good. Take Care
Note
BE CAREFUL GUYS... PRETTY SURE a 10-15% DROP COMING SOON! It's NOT LIKELY to break out! It's more likely to revisit the 0.00006 area. RESIST THE TEMPTATIONNote
For SHIB to break out again right now/soon it would have to hold above 0.000074 and once it breaks 0.00008 , THEN A BREAKOUT WOULD BE MORE LIKELY but there's some divergence on the RSI and MACD signal line is about to cross under 0 if it falls a little and that would cause a bigger fall... IF IT BREAKS ABOVE 0.00008 that's a different story.Note
Lets see if SHIB can bounce off the support area again here. I'd be very careful if it falls under 0.00006 for anything more than a quick wick bounce. The potentially lower targets are MUCH LOWER 10%-20% so be careful under 0.00006 and ESPECIALLY 0.000055. That would be my personal limit. I know it's a big loss just to get to that point but that's how it goes with an extremely volatile coin like SHIB.
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