It’s been an enjoyable ride to the downside but I think it’s time for a little reversal after SHIB hit a low below .000029. Since then it has bounced back nicely and we could headed for greener pastures. To confirm that I’ll compare the weekly against the one day.
This week hasn’t closed out yet but it sure looking good. We have a green candle with a solid thick top candle forming and a long wick on the bottom. Looks like a bullish hammerhead to me. So let’s keep it going.
Looking at the one day chart we see green candles pushing up and breaking through that downward trend line. We need to stay here around .000033 once it breaks above .000036 we could be on our way. If it drops back below .000032 we may have to wait till January for that rally.
If buy pressure continues for the coming days then we can expect a small rally for SHIB before years end. That is what I am waiting for. We keep moving sideways. But looks like we got a good pump the past three days.
I’d say SHIBs low is most likely between .000028~ .000032. I don’t see it going below this. There is very strong support in this area.
So what do we need to look out for going into the weekend. We need to first crack .000036 then test then go past .000038. Once we break through these resistance levels I see SHIB going above .000041 once it does that we can expect a nice rally by years end.
Rally is coming. Hodl. DCA down. Don’t sell.
💎🙌🏼🚀 keep it lit.
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.