Possible SHIB Pullback Entry Point
Diupdate
Welcome to the Wall,
Where you can find my humble crypto observations and ideas.
Shiba Inu (SHIB) 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
*Always confirm your looking at the correct contract.
October: Big month for SHIB.
SHIBUSDT
October has seen two explosive moves for SHIB, the first in early October, when SHIB broke out of its months long dormancy on high volume, followed by a short consolidation which led to the more memorable moon rocket and probably largest move since its inception within the last several days.
As can be seen from the trading view chart attached, price has been consolidating within that large mother bar on the daily with a brief spike above its high of the day after forming a possible short term top.
Note this bullish trade was on less volume then the bull trade earlier this month, signaling a potential easing of bulls buying pressure as perhaps, some profits get taken off the table and positions are over bought as the RSI on the daily shows.
Conclusion: With volume dropping on this most recent bull trade, SHIB up several hundred percentage points in as many weeks, and the RSI breaking back below the 80 level and a possible short term top made, a price rotation to a possible support around the .00005ish area may be a good place for a limit order.
Limit Order: .0000515
Question: Wont you miss out if SHIB moons from this consolidation?
Answer: Perhaps, but this is just one of my crypto entry strategies. I regularly buy market prices, but also like to put out "evidence backed limit trades", to possibly acquire more at a better price.
Buy some at market when pullback conditions are not evident, and place limit orders when a pullback is likely and almost certainly a combination of both to optimize your average token price. I always have limit orders out if I am able to. Crypto moves are so fast and furious you could get filled on a big smash.
Youngwall902
Where you can find my humble crypto observations and ideas.
Shiba Inu (SHIB) 0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce
*Always confirm your looking at the correct contract.
October: Big month for SHIB.
SHIBUSDTOctober has seen two explosive moves for SHIB, the first in early October, when SHIB broke out of its months long dormancy on high volume, followed by a short consolidation which led to the more memorable moon rocket and probably largest move since its inception within the last several days.
As can be seen from the trading view chart attached, price has been consolidating within that large mother bar on the daily with a brief spike above its high of the day after forming a possible short term top.
Note this bullish trade was on less volume then the bull trade earlier this month, signaling a potential easing of bulls buying pressure as perhaps, some profits get taken off the table and positions are over bought as the RSI on the daily shows.
Conclusion: With volume dropping on this most recent bull trade, SHIB up several hundred percentage points in as many weeks, and the RSI breaking back below the 80 level and a possible short term top made, a price rotation to a possible support around the .00005ish area may be a good place for a limit order.
Limit Order: .0000515
Question: Wont you miss out if SHIB moons from this consolidation?
Answer: Perhaps, but this is just one of my crypto entry strategies. I regularly buy market prices, but also like to put out "evidence backed limit trades", to possibly acquire more at a better price.
Buy some at market when pullback conditions are not evident, and place limit orders when a pullback is likely and almost certainly a combination of both to optimize your average token price. I always have limit orders out if I am able to. Crypto moves are so fast and furious you could get filled on a big smash.
Youngwall902
Catatan
Okay, some support is coming up, we shall see if SHIB rotates lower closer to my limit order.However with a possible range forming within the mother bar which formed a few days back, I am executing a range grid and reducing my limit order as .00006ish could be a support area, making the limit price a stretch, especially if bulls step back in.
Happy trading.
Youngwall902
Catatan
Okay, wild few days in SHIB, limit order hit, and accumulated SHIB on the way down using the grid bot. This strategy is now complete with a successful lower entry point.Will this next consolidation see another dip? We really want to see SHIB hold above .00005 to avoid a more painful rotation lower.
Happy Trading
Youngwall902
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