SHIB Moving Sideways For The Weekend and Beyond
It’s Friday here in Tokyo and we are moving into the weekend. Where will SHIB go? Today I’ll break it down into three parts to make it easier to understand my logic and my prediction for this weekend.
We going to start on the one week chart. Where my triangle has formed and intersects we have a green inverted hammer. That hammer being green makes us bullish. However week is not over yet and it’s inverted so we are less bullish.
Move to the one day we have that nice breakout. Look more closely on the one day and notice we are bouncing. I drew over the candles in yellow. This up down movement sees us moving sideways.
Look at the four hour we have strong resistance at the .000053 level. And we have solid support at .000042. And we are moving sideways. Consolidating in this up and down before the next breakout. Which needs to break out up to .000062. Or fall to the next support level at .000036.
But we are bullish so we need to think of outside factors that can affect the movement. One ofcourse are catalysts. SHIB had some good catalysts this past week. But is it enough?
Watch Bitcoin. It’s up this on the day. Will it break through back up to 62k? If so we can expect the alts to also follow.
The best thing to do is dollar cost average down or hodl. If your in profit consider taking some profit out. As for me, I’m gonna Hodl.
Lastly, consider expanding your portfolio if your portfolio is holding a sizable chunk of SHIB. Get some ETH and some usdt. A good portfolio should be about 75–80% BTC and ETH. Throw some usdt in the mix is what one of my community members is doing. I think that’s a great strategy.
Learn all you can about your crypto investment. Don’t be afraid to move beyond SHIB. There are many great projects to get into like CRO or BNB.
How far down the rabbit hole do you want to go? That choice is yours and yours alone to make. Don’t get rekt.
Kept it lit. 🙌🏼💎🚀
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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.