SHIB Could Breakout This Weekend
Taking a close look at the one day chart and it looks like heading into the first weekend of December we could have a nice breakout to the upside. I feel confident that this is going to happen. At the same time always prepare for the worse. The other direction is down.
It may not be a big break out but I feel it will be the start of our December rally and it will build and snowball.
Above we have the yellow downtrend line and it forms a triangle with the green uptrend line. If we did continue downwards I see next support at .000032~ area if we drop below .000036.
December is circled because it’s right at the beginning of where the triangle forms. This is the month for a SHIB rally to the upside. Expect a break out then testing resistance at around .000046. This area of resistance we need to break through. Next area of resistance will be .000052~
If we see this break out in the coming week we could see a return to the all time high at around .000088. This would be an exciting place to test before we eat that next zero.
The best thing to do? If you bought in high this is a good time to dollar cost average down. If you did a short, this is a good re-entry point. If your in profit HODL. If you making bank maybe take some profits out for you.
It’s Monday here in Japan. The week has only begun. I’m sitting back and watching and waiting for this weekend. I’m expecting the breakout.
All signs appear to point in this direction. But I’ll need to check the daily candle. Let’s go.
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Note: do your due diligence. Don’t make financial decisions based on my charts. I’m not a financial adviser. Just a guy with an ukulele who loves crypto. With that own your decisions. I’m not responsible if you get rekt. Crypto is high risk and high rewards. Play at your own risk.