POP Goes SHIB or Plop – Don’t Fear the Reaper
Woke up this morning and you know what the first thing I do is check the charts, why? Not because I’m addicted to daily TA I’m simply curious and invested in my SHIB. Plus I need to know the direction we going so I can plot the right moves. I’m in full on HODL mode.
Below is our 4h chart. We squeezing at the end of my triangle formation. I’m waiting for it to go POP up to the upside. However, need to see it push up and break through that resistance at .000052. I have it circled.
We did plop down to around .000046 however it’s made a nice bounce back up and that could be our new support level. Or this this bad boy can do a bigger plop down to our next support level at .000043.
We need to keep an eye on it for the day. According to RSI on Binance we seem to be a bit overbought. Which means we could be heading back down. Here’s what to do in two given scenarios depending on when you bought it if it decides to Plop this weekend.
If you bought in high the best thing to do is HODL. You can improve your position by dollar cost averaging down to mitigate your loss and increase your holdings.
If you bought in before this big pump and are contemplating a sell I wouldn’t sell. Diamonds hands. If you want to take profits you should have taken profits above .00006. So I’d HODL. Remember hold the line.
My thoughts on today is I still feel bullish I’m waiting for that pop. But at the same time with RSI stating we seem to be overbought maybe, maybe baby… we getting a bigger dip. Either way, don’t fear the reaper, be prepared and have a strategy.
Good news though. These November lows bring December highs. The best thing to do is diamond hands to the moon. Check your emotions at the door and never panic sell.
Let’s go. 💎🙌🏼🚀
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Note: Not a financial adviser. Do your own due diligence. Take ownership of your choices and invest in projects with disposable income. Don’t FOMO leave your emotions at the door. Ball is in your court. Good luck to yah. Moon.