SHIBA INUShort
demand weakening, pump needing fuel
Unless we break upside 0.458 on sign of strength. I do expect a retracement down for shib.
Since demand has been in power since beginning of October, I would expect the need for it to decrease before, we have that drop, by testing again 0.458, having some more of it getting absorbed.
And overall, I would consider .37 as first retracement zone, and unless we test that area showing light supply, what I see is a break under it for price to go dip the 0.305 area. Which a test of this lower zone would obviously be confirmed by a break under 0.37 on heavy supply
4 hours observations
Daily
Weekly
Since demand has been in power since beginning of October, I would expect the need for it to decrease before, we have that drop, by testing again 0.458, having some more of it getting absorbed.
And overall, I would consider .37 as first retracement zone, and unless we test that area showing light supply, what I see is a break under it for price to go dip the 0.305 area. Which a test of this lower zone would obviously be confirmed by a break under 0.37 on heavy supply
4 hours observations
Daily
Weekly
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.