SHIBUSDT Falling Channel| VWAP S/R| Price Action| Trend

29 нояб. 2021 г.

Evening Traders,

Today’s analysis – SHIBUSDT- trading in a clear descending channel where a breakout continuation is probable,

Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
VWAP Confluence
- Swing High Objective
- Low Volume

SHIBUSDT’s immediate price action is corrective and is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAO S/R, allowing for a bullish bias.

The Swing High is the immediate objective, exceeding this level leads to a trend continuation.

The current volume profile is below average, an influx is highly imminent when an expansion occurs.

Overall, in my opinion, SHIBUSDT is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“You’re going to learn a million things, then you need to forget them all and focus on one.” – SunriseTrader