📈SHIB: what causing the dump and where to open a long?SHIB is enter the liquidity gap again and clsest support is the value are under it. Will the SHIB fall fo another 17%? Let me explain the current situation and give you the best enrty point.
Why the price of SHIB fall? First of all, we see the volume growth after the last pump. That means the big players have huge sell out to retail traders who close their shorts at break even. When the price return there for the second time another traders who accumulate Shiba close their longs at break even also. That is why the price make a false breakout of the key level of $0.00012. This 2 things push the price down.
Addirionally, BTC make the same things and test the $20k today.
Where to open a long? We have to see such preconditions as it was before dump:
1. volume growth - the pressence of buyer. The growing volume shows us that big player is buying SHIB.
2. squeeze to the trendline after the dump.
3. BTC should show the strength and push the price of ALTs higher.
Also, it will be good to see some local manipulation and short traders trap such as false breakout of local lows etc.
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P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
