SHIB Up Up Up and Away Only Believers Will be Here to Stay

Updated

Price has been pushing up for a few days now and this has been great. I am still conducting research and analyzing SHIB, but do have some thoughts currently. I am thinking, SHIB is likely to continue higher after it has a decent pull back. This might happen at the 0.000015 to 0.00002 lvl. There are those that likely bought at 0.000006 or somewhere near here and will likely keep holding as long as price keeps pushing higher. If price starts ranging or has a strong push lower, there will be a lot of people who might get shaken out. Now if and when price starts pushing higher, there will be those that have been holding SHIB for a while, who will likely exit because they want to get away from the regretful feeling of getting in and having to hold for so long, to those that just want to breakeven. After these players are shaken out, I am thinking, that once price starts pushing higher (because the players that want to be in for the long haul will take the price drop as a discount to buy more) price will push back near the 0.00002, the hype might start increasing and people will come in and likely pump it up to around 0.00005. Once this happens, there will likely be another drop, to around the 0.00003 lvl, and then another pump to 0.00005. Once this is cracked, there will be a lot of news about how SHIB could drop another 0, price will pump up a little higher, then FOMO will start hitting the coin. If this happens around or near the BTC halving, price could pull back and then hit 0.00015. This would push SHIB to be the 3rd Crypto by market cap on the list, but that's if the other coins don't have similar moves as SHIB, which I think the other coins market caps will push higher also (which will likely put SHIB around the 7th or 8th position).

These are my thoughts and trading carries a lot of risk. Do your own due diligence before following anyone of taking there advice and manage your own risk according to what suits you.

Have some great trading own there.

Note

Let's see if price is able to hold above the 0.00001 lvl. But even if it doesn't, there is a decent amount of traction on the coin. This coin has been surviving throughout the increase in interest rates, the pulling of easy money in the economy, and the potentially thoughts of recession that people thought was going to manifest but somehow didn't. If price does push lower, I am thinking that people might push back into the coin because it is at a discount.

Note

There are some huge crashes happening in the Crypto market. SHIB is pushing lower due to news about Shibarium having technical issues as well as over 900 ETH being stuck when users were utilizing the bridge. But there was also statements saying that it was false, that Shibarium is fine, it had to due with the influx of users that was not accounted for, there isn't ETH stuck, that bad actors are releasing false information. But is this the sole cause? I don't think so. The whole crypto market is being affected, just look at BTC as it's been hit extremely hard also.

There is a lot of things going on as to why BTC dropped (which a lot of Cryptos are correlated with):
-China devaluing the Yuan
-Elon Mush Space X and Tesla selling off massive amounts of BTC
-SEC motion to appeal approved XRP not being labeled as a security
-increased interest rates and the FED likely to keep raising rates to fight inflation

This is good because it will show how strong crypto is. Will this be an opportunity for others to get in and see that crypto is now at a discount and purchase more. Either way it will show how strong SHIB is and if the community still stands by it. Governments around the world adopted fiat after the US removed the Gold Standard in 1970s. There was no fight to have a fiat system. But there is a fight to have a crypto system. So if that continues, crypto will be able to push higher, and SHIB will also be able to push higher.

Note

There is some good news coming out. Developers are pushing out good news about how Shibarium is looking good on the private side and all that needs to happen is it becoming public. Some people have also received their BONE token and what was supposed lost, isn't. If this is true and with the 2nd release of Shibarium (with no technical issues), SHIB will likely be able to climb back above the $0.00001 lvl.

Moving on from here, what I am looking at is my plan (or what I am thinking might happen) I had put above, which is the following:

-SHIB is likely to continue higher after it has a decent pull back. This might happen at the 0.000015 to 0.00002 lvl
-price will push back near the 0.00002 after the weaker players are shaken out
-the hype might start increasing and people will come in and likely pump it up to around 0.00005.
-Once this happens, there will likely be another drop, to around the 0.00003 lvl, and then another pump to 0.00005.
-Once this is cracked, there will be a lot of news about how SHIB could drop another 0, price will pump up a little higher, then FOMO will start hitting the coin.

Now moves don't happen exactly as speculated but moves do happen and when it follows the thought you have created and plan, it is good to take note of it. The thought of price dropping because there was those that wanted to sell because of holding SHIB for awhile at a loss and then having the opportunity to exit, did not happen. The drop happened because of the issues surround Shibarium and people's money getting trapped, which dropped price to near $0.000007. This was not $0.000006, but it was close. So this might be the drop that I thinking about. Now the move is still there, just the catalysts have changed. If this Shibarium thing comes out successfully, then we are looking at the $0.000015-$0.00002 lvls. So all in all, the plan and thought is still good. With a ton of PR still coming out, a bunch of talking about SHIB is still there, SHIB will continue to keep pushing forward. SHIB is still holding its ground, and the more it ranges, the more kinetic energy it will have to push either up or down when a catalyst manifests itself.

Y'all have some good trading out there.

Note

The SHIB ride continues. It is getting closer to the BTC halving in April and Crypto is looking like it has shaken off the Crypto Winter and currently in Crypto Spring. I haven't been looking at to much of the fundamentals and staying on top of what SHIB has been doing, but know that the BTC halving is being highly anticipated as a push higher for BTC (which gives a boost to most other coins also). Now, with the FED potentially lower rates sometime in the summer also, this is a great signal for the price of SHIB to push higher.

There are still likely a lot of people who have been in SHIB, just holding, so the drop in price when certain lvls are hit will push the weaker players out. When the BTC Halving happens, and there is a huge pump in price, the FOMO players might come in and even push price up higher before price stabilizes, and at that point, will price continue to push higher afterwards or start ranging from there? I think it is dependent on what BTC and ETH does as it holds a lot of weight in the crypto world.

In June 2023, price hit a low of around 0.000006 (which was near the price of SHIB when it started) and there are likely people that bought at, near, and have an average price of around those levels. So if they sell their positions, this could cause a huge dip in price also. Price reaching back up to the 0.00009 and higher, it is a long journey. With the stimulus injections of 2020 and 2021 gone, and the FED staying with current rates and reducing their balance sheet (and other central banks holding interest rates for now), it is a matter of, will SHIB be able to survive after the push higher.

Note

I just opened my brokerage account to check to see how SHIB is doing, and this thing is going parabolic (check in the morning and at evening/night only). Will check to see what is going on, but this is pretty crazy. Don't know how sustainable this is but there is likely going to be a pull back. Expectations need to be managed. A 20%, 30%, 50% rise in a span of a few days; there is likely people with itchy fingers ready to sell if price keeps skyrocketing like this. If there is some profits that you have, play with the markets money, not your hard earned cash. The goal is to be in a position where you don't need to worry about what you have in, where you can not watch, listen, and see what price is doing and what news is being release, come back in a month when the BTC Halving is happening (in April), and see what price did.

Note

This week is going to busy. If the FED does stick to the expectations analysts, traders, and other investors are thinking (reducing rates in the summer and 2 more times afterwards), than BTC, ETH, SHIB and other cryptos are likely to push even higher. With the BTC halving upcoming also, could propel price even higher. When SHIB pushed lower, close to 0.000023, it is likely a great buying opportunity. BTC is trading below the 70k and it might be a matter of time before price breaks out higher. If BTC is able to hit the 80k lvl, SHIB might be able to hit the 0.00005 lvl. At that point it might see another pump as those that got out will likely not want to miss out on price being able to drop a zero.

Note

All of Crypto is getting hit. BTC is nearing the 60k lvl. ETH 3k lvl. SHIB trading below the 0.000025 lvl. Tomorrow is the FED Rate Decisions, so if expectations are met and the FED does give the hints that will will stick to current rates for longer and 3 rate decreases are off the table, Crypto, SHIB, will experience another hit and price might push below the 0.00002 lvl on SHIB. Since those expectations are with the FED likely holding onto current rates for longer, the FED hinting at a dovish stance and sticking to the 3 rate hikes will be great for Crypto. This coupled with the upcoming BTC halving and majority of Central Banks on the verge of dropping rates across the board, will propel Crypto higher.
Additionally, there might be the snipers that have been waiting for Crypto to drop to get in a discount lvls. Even if the FED does not plan on lowering rates and holds current rates for longer, prices will be at great lvls to get in if the last move was missed. An ALTCOIN surge is being predicted by Crypto enthusiasts. What it comes down to is if, you are able to sit on your hands and wait until the uptrend starts again.

Note

SHIB is holding around the 0.00003 lvl and looking at the technicals, price could push lower. On the daily charts, BTC is showing an ascending wedge, which if correct, could push price down to the 62,500 lvl and possibly the 60,000 lvl. ETH is also showing the same pattern and could drop to the 3,200 lvl. DOT is also showing the same pattern with price potentially dropping to the 8.50 lvl. If this patterns are correct on all four products, price action could complete the inverse cup and handle pattern and push price to even lower lvls. SHIB is showing an ascending channel along with the ATOM coin, and DOGE is potentially forming the second part of the head (of the head and shoulders patten). This too, if correct, could push the coins to lower lvls. What else could give evidence to this?

On the Fundamental side, the FED is still remaining cautious about lowering rates. The USD has been getting stronger and with the PCE coming out as expected, but previous data getting revised higher, could cause the FED to still remain cautious. But this is not the only issue with potentially causing a hamper on price appreciation for Crypto. The SEC is attacking Crypto hard. There is news about the SEC asking for millions of dollars to increase its lawyer size in order to have more Crypto oversight. The SEC is going after Ripple Labs, Binance, and other exchanges such as KuCoin and Coinbase. The SEC won a lawsuit against Coinbase (motion to dismiss) on a claim that the exchange sold unregistered securities and a trial jury could commence. Moving on, there was also the GBTC outflows that were happening that analysis said assisted with BTC pushing to below $65,000.

So, with the BTC Halving coming up, the push higher, at least initially might not happen. This is good because there will be another chance to get in SHIB. There is a lot of promise for SHIB and price also pushes higher when BTC pushes higher. If SHIB is able to resist the push below the 0.00001 and keep that fifth zero off, price could push to the 2021 high. Just like the title of this idea says, only believers will stay on the ride to see how many zero's can be knocked off.

Note

The Crypto market is getting hit. BTC hit 65k before pushing a little higher. ETH hit below 3,200 before recovering a little. SHIB is trading just above the 0.000024 lvl. The patterns changed and now BTC is showing a range triangle, ETH is potentially showing an inverse cup and handle pattern and/or a double top. SHIB is showing either a descending triangle pattern or a descending wedge. On SHIB there was an engulfing bearish candlestick pattern which proved to be correct. On the fundamental side, things aren't looking too good. With the CPI data coming out hotter then expected, this is causing traders/investors/analysts to rethink what they speculated about the FED reducing rates. Currently it stands at the FED holding current rates at a 71.7% chance. The previous week it was standing at 46.8%. There is also the UniSwap issue with the SEC sending them a notice and people pulling money out to protect themselves.

But I am thinking this might be good to catch things on discount. It is all about holding now and seeing what price will do. The FED will eventually have to choose whether to stay with rates at current lvls to keep fighting inflation or attempt to protect the economy from getting pushed in to a recession and potentially exacerbate the inflation issues. Other Central Banks are holding onto current rates.

With the probability of the USD pushing higher highly likely, SHIB price is likely to see some more loses. Price might even be able to break below the 0.00002 lvl and trade around the 0.0001-0.00002 area for sometime. The Halving is coming up for BTC, but I am thinking that it won't be moves as some are speculating. If price does push higher, there is likely to be some profit taking happening. As long as the 0.00001 lvl can hold until the FED does reduce rates, then all is good. SHIB held out through the Crypto Storm and Winter, throughout 2022-2023, and this might be similar to how Apple and Amazon where fighting against all odds back in the early 2000s. The SHIB can keep fighting and maintaining it's spot as the number 2 memo coin out there, the more likely it will be for another zero to drop off.

I have a few entries in place in the event SHIB does break below the 0.00002 lvl. A couple of my entries were hit when SHIB pushed all the way down, near 0.000021.

Y'all have some great trading out there.

Note

It is interest how price is following along with what is be anticipated with its movement. BTC hit below 60k, ETH below 3k, and SHIB below 0.00002. So what could potentially happen? The BTC event wasn't to spectacular as some had speculated but it is too early to tell. What price is showing though, is things are either going to get better or worse. BTC is trading near its 60k support and if price keeps testing this lvl, it is likely going to break lower. With how the current fundamentals and market sentiment is looking, it is likely it will break lower. ETH price is showing a descending triangle after a drop from above 3.6k to a consolidation around the 3k area. SHIB is showing an ascending triangle from a drop of near 0.00003 to a consolidation between 0.00002 to 0.000025. With three analysis and some proponents speculating a drop in price, a self fulfilling prophecy could occur with BTC pushing below the 58k lvl, ETH below 2.8k lvl, and SHIB dropping to around 0.000015 lvl.

With Geo Political events that are happening pushing traders and investors to the US Dollar and Gold/Silver (and other assets that are seen less riskier), to the FED keeping rates higher for longer (and it looking like the first rate reduction will be in September instead of June), it could be another tropical Crypto Storm that will need to pass on by before things start clearing up. I was thinking that 2024 might be the time (at least the next two quarters), to get into positions on Crypto (SHIB in particular) and sit and wait until the catalyst majority of investors and traders have been waiting for, the FED to turn completely dovish and start lower rates.

The Fear & Greed Index on CoinMarketCap has lowered and is now in neutral territory. SHIB was able to push back up a lvl to the number 11th spot by coin market cap. There is likely to be some fighting that will go on with Crypto working its way through the trenches again. But I think it will eventually prevail. The way to play this out is to:

Stick to your Decision and Follow your Plan. Let's see what happens in the 4th Quarter of this year.

Y'all have some great trading out there.

Note

I am still holding onto positions in SHIB, waiting to see when the magical catalyst will hit to potentially push price higher. All eyes are of course, on "when will the FED reduce rates." Analysts are saying it can be as early as September, while the FED is working at reducing those expectations by saying that it is data dependent and they want to feel confident that inflation is pushing lower. So........ the waiting continues. There hasn't been nothing more then noise in the market that is showing that I need to get into a bigger position or start exiting, so I will continue to wait this out. But......

On the daily charts: SHIB is in a descending range triangle and formed a three black crows candle stick pattern (bearish signal), which could indicate that price might start pushing to the 0.00002 soon. BTC is also showing a bearish candle stick pattern and bounced off the descending channel resistance turned support. Price is attempting to climb back up to the 70k lvl. ETH pushed near the 4k lvl, but is not ranging and attempting to hold near the 3.8k lvl. DOGE is working on pushing higher and is showing a bullish candle stick pattern, but there is an ascending wedge that could point to price pushing lower. With the news and market sentiment how it is, it is going to be a back and forth type of thing until something dramatic happens, like the FED finally reducing rates or inflation pushing higher (like really high), or just a crazy move where another round of stimulus is injected.

The is also a lot of money being poured into other adventures such as AI stocks, Tech Stocks, new meme coins such as Floki and Bonk and Pepe, which is sucking up some of available liquidity. Even with all this, I still think SHIB is going to hold out and push higher. With the amount of support, what projects it's doing and getting into, its burn mechanism, and ease of getting into, I think there is still a lot of room for growth.

Note

And the holding continues. BTC dropping and heading towards the 65k lvl, ETH breaking below the 3.5k lvl, SHIB nearing the 0.00002 lvl, and DOGE making a stand below the 0.15 lvl. Risk assets are having a hard time pushing higher with the FED holding rates at currently lvls (as the FED Rate Decision unfolded yesterday with the FED holding rates at 5.50%) as well as potentially only reducing rate one time for the year. The CPI data came out lower as well as the PPI, but this did not help out Crypto from pushing lower.

Again, is this a buying opportunity or is it time to exit? Well, there might be a little reprieve as Crypto keeps fighting to push out and eventually break out to new heights. On the daily charts, BTC is showing a bearish candlestick pattern with a high probability, ETH showing a bullish candlestick pattern but price is pushing lower, and SHIB is in a range. There is multiple data that will be coming up before the next FED Rate Decision at the end of July, which could potentially cause price to hold their lvls. But anything that gives reason for the FED to keep holding rates, such as inflation pushing higher or not dropping, will cause Crypto to fall even further. But of course, any slow down in the economy, slowing inflation, and the FED Dot Plot pointing at more rate cuts, will fan the flames of crypto pushing higher.

The USD bounced off the 104 lvl and is trading above the 105 lvl, Gold and Silver is pushing lower, and the Dow Jone Futures is nearing the 38k lvl. With this showing, there could be more losses for BTC, ETH, and SHIB. For me, I am still sticking to my plans. If SHIB does push lower, breaking below the 0.00002 lvl, I will get into another position at 0.000015. If price is not able to hold below the 0.00002 lvl if price does break lower, then it is likely that people (likely Whales) are keeping the 0.00002 lvl afloat.

Note

It makes sense doesn't it? That price pushed lower, to the 0.000012 area and then rallied to 0.00001754 before retracing back into the 0.000016 arena. With the confusion of whether the FED is going to lower rates or not, Mt. Gox returning BTC back to people that got hit in the 2014 hack (mainly thinking the people who receiving their BTC back will sell it at the higher price today), the German Government selling their billions worth of BTC, and potentially BTC miners offloading their BTC as well; all this in the news as PR is causing massive fears which is causing price to crumble. But with this, it will show how resilient Crypto as a whole is and what I am trading, SHIB. Any news that is significant as the ones I just mentioned, it is good in the sense that it shows how much of an impact it will do to crypto and how much crypto can sustain that hit. SHIB (and the Crypto Market) seems to keep getting hit with a lot of bad press, such as the FTX fraud, the Crypto winter that started in late 2021 and seems to have ended sometime in 2024, to issues with Shibarium and ETH and BONE getting "stuck" in late 2023. But it is still going and with a lot of support behind it. There is a ton of press on SHIB also that will keep it in the minds of people. There is also the Spot ETH that people are hoping will be approved as well as many traders and investors and analysts are thinking that the FED will potentially reduce rates in September. So this might be the time to get in at a discount. Before ending this update, I am thinking that this is showing who is a weak player and who is a strong player. Meaning, once all the negative news hit, people started selling at a rapid pace, dropping price considerably. Once that happened, it is likely that both people who were just really excited that price dropped and got in to make some quick bucks, to those that looked at price dropping as an opportunity to buy more. As price pushes higher, the ones that are in it for a quick buck are going to start exiting if price pushes above the 0.00002 lvl, maybe around the 0.000022 lvl, and then there will be the ones that hold. If things do go as analyst predict, then there stands a chance that we might see at least a 5x to 10x happening (which I am around 30%-40% sure about this because I don't think there is going to be a massive wave of stimulus like there was for COVID, but I do think that since inflation is going to stay at higher lvls then before and fiat currencies will get weaker, people are going to flood to other assets that can hold value and/or give them some earnings).

At the amount of coins SHIB has currently, in order for SHIB to drop a zero it will need a market cap of around $59 billion, and right now, it is standing at a little less than $10 billion. But this is doable. Things do sound/read a little somber, but I am still in it to win it (my bad for this), but I am sticking to SHIB will make it to the other side.

Y'all have some good trading out there.

Note

SHIB is having a hard time pushing higher. Early this month price did break above the 0.00002 lvl, but was not able to hold. With the thought of Donald Trump being positive for Crypto (speaking in Nashville, which is kicking off today), integration of K9 Finance on Shibarium, the increasing potentially of the FED reducing rates in September (and a few more times afterwards), why isn't price at least trading above the 0.00002 lvl. Well there is a ton of news about how Mt. Gox is moving more and more BTC to Creditors, outflows are still happening (especially with the newly formed ETH ETF), about a week ago there was around $230 million stolen (about $100 million in SHIB), and there is political uncertainty.

Regardless of this, is this the time to start buying up SHIB at a discount? Maybe. I am still thinking price is eventually going to push higher, but getting in right away because of FOMO isn't they way to do it. What I am doing is placing entries below certain lvls in order to get in at better prices. If the FED does reduce rates (3 other times also), SHIB burns rates increase, Donald Trump wins the Presidency and remains in favor of Crypto, and the Channel on the weekly chart holds, then SHIB will likely push up to around 0.00003 lvl and maybe even test the high of this year.

Thinking about the weekly channel, it is showing that price could potentially push to the 0.000011 lvl, which is near the support of the descending channel. Also ETH is should an inverse Cup and Handle pattern (BTC is also showing one but it isn't as prominent as ETH) that could be signaling more floating losses in store. ATOM and DOT are showing prices near support and could add fuel to the fire that the signals of price pushing lower is correct. Gold and Silver are also pushing lower (with the thought of and the FED funds rate pointing at a highly likely September rate reduction, prices on these commodities should be higher). Oil is also pushing lower as well as the Dow Jones Futures near the 40k support.

I am seeing if there is validity in SHIB dropping a zero. SHIB has come a long way along with other Cryptos also. The interesting part to see is what will happen when another great rally happens in Crypto again. Will SHIB be able to hold above the 15 top coin and even push higher?

Note

Well...........SHIB did push to a little under the 0.000011 lvl, but managed to rally a little. Will it continue lower, potentially. There is a lot of news pushing traders and investors to the sidelines, but there is also some promising news that is good for Crypto. The market sentiment is pushing the uncertainty narrative and the the different self fulling prophecies are colliding. There are proponents that were saying that BTC would push lower to around 48k, and with recession pushing higher and the NFP coming out less then expected, the US potentially selling $2 billion BTC, distribution of Mt. Gox BTC to its victims, the Japan Stock market crashing, and things going on in the Middle East, this makes sense. But there is the other side that say BTC is going to push higher, and with the amount of prominent players in BTC, they are likely buying up BTC as price pushes lower. This has a huge impact on SHIB as SHIB is correlated with BTC.

As price pushes lower, there is someone, somewhere, waiting for price to push down further to buy BTC up. There is a bunch of fear and a lot of reaction happening and since the retail lvls are not at the lvls as before, a lot of the movement are from the big players and major players. I think price will eventually push higher. The best thing to do is to start placing probe entries (breaking up what you want to trade/invest with into 5 to 10 parts) at certain lvls (such as 0.00009, 0.000007.5 or 0.000015, 0.0000198 and so on) in order to see where price is going to head. This will also reduce the impact of negative moves if things don't hold up.

I have placed about 25% of what I want my total position to be on SHIB, the rest I will be using to evaluate where the market is standing. If my entries I have at lower prices are hit, then I will likely either reduce my entries to smaller amount or increase the distance of where I get in at. I am here to see what wins out and the it does really seem and feel and shows that there is a lot of energy in Crypto waiting to break out. In the next couple months price will likely come to contention point (meaning an area where price sticks to), and these next economic releases as well as what the news starts painting will determine if price sticks near the 0.00002 lvl or if price ranges below the 0.00001 lvl.

Note

What a roller coster its been. Since my last update, SHIB was able to a high of around 0.00001613, but was not able to sustain the move higher and is not trading below the 0.000013 lvl. Price is attempting to break above the 0.000013 lvl and stay above it, but it is questionable that it can stay above the 0.000013. BTC is taking a decent hit as well as all the other coins out there. Cutting out all the noise, it is coming down to either the fulfillment of the self fulling prophecy or not and how to build into the position and protect yourself from a potential huge hit to your account. Before getting into it, what is the self fulling prophecy. Well......................... movements in price are made because of what traders and investors think will happen in the future and either go long or short, so......................... there is the expectations of the FED reducing rates by 0.50% (which increased to a chance of 50% because of the lower then expected NFP) and the upcoming debate and elections. There is also the thought of a potential recession and also the effects of the unwinding of the Yen carry trade. But, there is also the money that was used during the COVID years and stimulus being pushed out (with a lot of that money going into Crypto), to the unwinding of people becoming millionaires or making a decent amount of money and selling, to money being injected into newer coins, AI, and other projects and products.

Now for, what to do with speculating and what to do with what price decides:

1. Dollar Cost Average (DCA) into SHIB in very small increments. For instance, if you have $1,000 and already into a position with another $1,000, every week you can purchase $100 of SHIB and see about reducing the average of your position. Or you can use a price point also to determine when to build into the position. The intention of this is to not put everything in right now and then see price move against you, then you exit your position because you cannot stomach it, then you get even more angry because price then pushes higher (how many times have we seen this happen)

2. If you are in a position, just wait and see what the next few months bring.

3. Get into a short position with an equal to a less amount (hedge). If Crypto does move lower, then you can offset some of the loss.

I didn't put -just exit-, because for me, I want to see how resilent the Crypto Market is (BTC, ETH, SHIB, etc.). Crypto has made it through a ton of catalysts, issues, problems, accusations, attacks from governments, and is still continuing to move along. So even if there is more catalysts that push Crypto lower, will Crypto keep fighting and eventually be a medium of exchange that is adopted on a larger scale? I am definitely in it to see if this happens.

Note

Aaahhhh.......the joy'us escapades of the rise and fall, up and down, happiness and sorrow, of the movement of SHIB (really, the Crypto market as a whole). The news is assisting with pumping up price one minute and the next, it is brining doom and gloom. But this is the nature of the game isn't it? The FED this month cut rates by 50 basis points, which was more then expected, and it seemed like things were on a trajectory up. You could see this also with the amount of YouTube videos that were pushed out saying how this is the time price is going to go "to the moon." But then increased geo political events happened and now news about the US Government selling of around 63,000 BTC in the open market.

With all this, what do I see, is buying opportunities and a whole lot of sitting and waiting (which is the hard part). I have entries at 0.000016 and 0.000015 in order to buy up some more SHIB if price drops. On the monthly chart, price is showing a descending wedge (there is also an engulfing bullish candle with medium reliability) with price already breaking out. Price could drop a little lower then 0.000015 and the pattern would still be valid. But that 0.00002 lvl is crucial and price would need to be able to break above it and hold. What could bring this, well the next FED meetings, economic data, the elections, reduced regulation, positive Crypto environment, continued support, increased SHIB burning, potential of BTC supply shock, etc. What else, well I think, there might be a spur during the end of the 1st QTR and during the 2nd QTR as people file taxes and receive their refunds. More spending power and additional monies will help spur a rally in BTC and eventually start pushing SHIB higher.

To digress a little, what I am doing to reduce the impact of these rise and fall moves and allow me to earn some income while waiting, I trade the following: MARA, RIOT, IBIT. I sell cash secured puts and covered calls. This allows me to earn some premium, which helps keep my mind off messing with my positions in the Crypto market. Also, there are some exchanges that allow shorting Crypto and/or you could short mining stocks and/or you could buy Puts to assist in hedging you positions. What am I saying.............. is follow your plans and if you don't have one, make one and follow it. Protect yourselves and don't just YOLO.

Let's see what the next few months bring us and I am looking forward to ending the year on a green note (get it???)

DollarSaenz

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