This is a one-day-time frame analysis for SHIBUSDT
Based on our last analysis on June 26, we has a short position for our chart and expected a falling trend and in this chart you see this has come true. Here we have R2 as our resistance line. S1 used to be a resistance line and the disability of the price to rise is obvious. S2 is our long-term support line that expresses the support of the price since the past. And R1 is our 4-hour resistance line which shows the price could not move over it. At the moment, the price is fluctuating on R1 and due to the reverse head and shoulders pattern, we expect the price to rise toward R1 in order to form the right shoulder of our pattern. In case the price is able to fix over R2, then we predict more rise for it. Even it is possible for the price to be rejected at the current area and fall to S1 and again by a pull back, it moves upward to R1. Or it my happen that the price faces more decline when it enters the area below S1.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.