SHIB/USDT (Spot) Potential Downward Movement

SHIB/USDT (Spot) Potential Downward Movement

Key Resistance Levels: 0.00003149, 0.00003202, 0.00003400.

Key Support Levels: 0.00002777, 0.00002700, 0.00002650.

Daily Chart:

The price on the higher time frame found support around the area of confluence made of the 61.80% Fibonacci retracement level and the bespoke support (0.00002777 Satoshi). The market is about to end a pullback to this area before seeing a new bullish impulsive wave toward the next key resistance level.

4-Hour Chart:

On the lower time frame, the pair succeeded to break the bearish channel to the upside after leaving behind a double bottom formation under the key resistance level. A lower correction could be seen to the new support level before reversing and moving upward toward the target profit.

Signal Idea:

Sell Limit Order @ 0.00002777

TP 1 @ 0.00003149

TP 2 @ 0.00003202

Stop Loss @ 0.00002621

Trade Safely 🙂