We got our breakout from the triangle. The next question is how high will we pump. BTC broke 40k. We should see the rest of the market follow. It’s a very good day.
Whenever we have these types of breakouts one has to think is this the rally of all rallies? Or is this another small one? Market is so volatile and it can always go either direction. It can difficult to make a prediction.
From here we see where we broke out. Though we may not know for certain but what we need to watch are the areas of resistance. Waiting to see SHIB break through resistance at .00027 and get back to .000030. Maybe we see some sideways movement between here.
If it’s a small rally I believe we can see it dip back below .000023. These are the signs to watch for to get a feel of where we are headed. This is what I’m looking at.
What factors effect the price of SHIB? Look no further than to ETH and BTC. It looks as though institutional investors are stacking BTC and ETH. If Bitcoin rallies the whole market follows. We also waiting to see ETH back above 3k.
Enjoy the rally. Let’s see where we end up moving into the weekend. For now things looking solid.
Note: I’m a simple man who loves crypto. I’m sharing with you my opinions and thoughts of the market. Don’t take it as gospel or financial advice. Always do your due diligence before you get into any of the tokens I’m talking about. Crypto is high risk and high rewards at the same time it can be brutal and volatile to the uninitiated looking to make some quick money. Be safe, don’t get rekt.