SHIB - Passed 12MA, Now Faced With The 21MA And 3286 ResistanceHope you find value from this post.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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SHIB bounced off support at 2563 at Green Support Bar, broke through the RED Extended Resistance Trend Line, and is now above its 12MA.
SHIB is now battlng its 21MA and the resistance at 3286 - which was previous support and resistance levels multiple times since Dec. 4th.
What's SHIB facing past the 21ma and the resistance at 3286?
1. The 50MA
2. The Red Horizontal Resistance Bar
Today's first order of business is to push past 3286 and close above its 21MA.
If SHIB retraces from here, we are expected to find support at the Extended Trend Line which was previous resistance.
Further push down will take SHIB down back to the Green Support Bar below and eventually towards the White support extended trend line support at about 2150.
MACD: Crossing Bullish, today will either confirm it or get rejected.
Stoch RSI: Headed for the 80 Level, momentum still Bullish.
Always remember to place your Stop Loss.
Price action is KING!
More power to all your trades, my friends!
Ron
Intrepid_Trader
