SHIB Shiba Inu: Staying Above The Support Line
Hello friends, today you can review the technical analysis on a 4H linear scale chart for Shiba Inu (SHIBUSD), a cryptocurrency.
Quick Analysis:
1) The price is supported by a multi-month trendline.
2) Recently the price broke out of a Falling Wedge Pattern and is currently moving upwards.
3) The price is headed into a heavily traded area as shown by the VPVR.
4) Volume is still low.
5) RSI (relative strength index) has room for growth. It recently completed a Double Bottom Pattern and is headed higher.
6) Please review the chart in detail as many of the analysis points are already shown on the chart.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Quick Analysis:
1) The price is supported by a multi-month trendline.
2) Recently the price broke out of a Falling Wedge Pattern and is currently moving upwards.
3) The price is headed into a heavily traded area as shown by the VPVR.
4) Volume is still low.
5) RSI (relative strength index) has room for growth. It recently completed a Double Bottom Pattern and is headed higher.
6) Please review the chart in detail as many of the analysis points are already shown on the chart.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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