shibusd - Shiba inu usd Elliot wave counts
Shiba is trading at ideal support zone at the starting point of wave cycle, but to confirm low/support in place and bullish reversal,
we need to see a recovery at least back to 0.00001435 area and more strong above 0.00000200 area. (One can go long after these confirmations) on the way down 0.00000450 levels are major support to watchout for.
As per Elliott wave perspective, we have been tracking (A)-(B)-(C) correction from all-time highs and wave (C) is now possibly completed,
as we see a completed five-wave cycle of the lower degree.
Overall wave structure, almost full wave cycle completed and price near major support level.
Waiting for close above 0.00001435 to made higher high and then higher low
Price is taking support at bottom of RK's mass psychological cloud on hourly time frame
Also on daily chart it entered again in RK's mass psychological cloud
Price action formed Morning star candle stick pattern on weekly time frame, but still waiting for follow up.
macd positive in daily time frame
MACD flat after down fall on weekly time frame
histogram breakout on daily time frame
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
we need to see a recovery at least back to 0.00001435 area and more strong above 0.00000200 area. (One can go long after these confirmations) on the way down 0.00000450 levels are major support to watchout for.
As per Elliott wave perspective, we have been tracking (A)-(B)-(C) correction from all-time highs and wave (C) is now possibly completed,
as we see a completed five-wave cycle of the lower degree.
Overall wave structure, almost full wave cycle completed and price near major support level.
Waiting for close above 0.00001435 to made higher high and then higher low
Price is taking support at bottom of RK's mass psychological cloud on hourly time frame
Also on daily chart it entered again in RK's mass psychological cloud
Price action formed Morning star candle stick pattern on weekly time frame, but still waiting for follow up.
macd positive in daily time frame
MACD flat after down fall on weekly time frame
histogram breakout on daily time frame
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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