How I make My Charts for SHIB and How You Can Apply This To Any Token

Technical Analysis (TA) is an analysis based on the information given. It is based on fact and also the creators perspective. No two TA for crypto charts is the same and is the reason why people follow different experts in the field.

I enjoy reading about technical analysis from various sources. I even incorporate what I have read into creating my own charts. The question is why even do a technical analysis?

I do analysis to put my mind at ease. Especially in crypto there are so many juvenile elements to various projects. A lot of people do not even do their own due diligence. When the market crawls into a correction for an extended period of time they freak out.

These type of people get paper hands and sell out or go bug the developer and community and complain about slow progress. In the end the FUD gets to them and they get utterly rekt and cry about their losses.

In other words they didn’t take the time to educate themselves to understand what they got themselves into. I'm sure you have seen these types of plebs. You see them everyday not just in crypto but in other spaces also.

Let’s take the time to learn the game of crypto so we can be in it to win it. At the same time I will tell you reader to not take my words as scripture. I am also a student myself and learning. I could be wrong at times. My speculative guesses could be completely off. Please take the time to do your own due diligence.

I feel that if you want to understand something it’s important to look at it from various angles. Hope for the best and expect the worst. This way you are always ready.

I am going to share with you an image of my analysis of SHIB for the week of June 11 through June 18th. I prepared this chart for myself to follow and to see if the token moves in the direction I hope. I have already shared this with my shibadults community on redditt.

Resistance Levels
I base resistance levels on the previous weekly highs. From there I draw a horizontal line out and mark it. Usually it will be a high before a dip.

Notice in my chart for resistance level 1 it touches right around 0.00000760 before it dips. If you want to get even more detailed review, check the previous weeks where it hit the same number.

Support Levels
These are the opposite of resistance levels. These are lines where the candles dipped and bounced off a particular number.

For this Chart check resistance levels 1 and 2 and then follow and see where it hit this same number the past weeks.

For SHIB .00000630 is a very strong level of resistance and .00000675 is a common place it dips to throughout the week. As long as we don’t crash through .00000630 we are good. As a matter of fact if your trading or simply waiting to get the best deal on SHIB I would recommend buying around .00000630–675. Thats my thought on that.

Consolidating
This is generally the place the price of the token will fall back to after a rally or a large dip. Think of it as a staging area where it returns to prepare for its next move. It is similar to a sideways movement.

To know where it’s going it’s best to draw triangles.

Triangles
Now my understanding of triangles when drawing them is you find the top two highs and the top two lows and draw a line out till they intersect. When they cross you have a triangle.

Referring back to my image you can see I base my triangle on the previous weeks high and current low.

The triangle can give us an idea how the candles will move.

The chart I have created currently is my chart to follow the week of June 11 through 18th. I will use this chart daily to see how close it follows my triangles bottom up trend line.

Based on the chart I have built I see SHIB breaking through resistance level 1 that is hoping for the best. At the same time I also am aware it could dip back down to the support levels.

Other news to take into consideration is the release of Shibaswap or a new listing on Robinhood. It is also ideal to watch the market as a whole. From my experience when I see ETH below $2500 I expect SHIB to be down if ETH is around $2300 and BTC is also down around $3200 I expect the price to be low.

All we can do now is simply watch and let the market do its thing. If you compare this year to any of the previous years there is also a pattern and I feel it goes like this.

January — May — MOON MOON and crash crash

MAY — August — SLOW up and down… Buyers market

Sept — December — build up and climax and BOOM … MOON, Mars, Andomeda

Think right now we are in a buyers market. When you understand the market as a whole there is no need to give into FUD. Too many beginners think of only getting rich and FOMO. Greed Kills.

The smartest crytpo investor is the one buying the dips and stacking while beginners panic sell.

Enjoy my chart and let’s follow SHIB this week. It’s going to be a mellow ride. Aha! Diamond Hands!