2021/11/05 05:32 AM – SHIBUSD – W1/D1 – PIVOT LEVELS !

SHIBUSD – W1/D1 – PIVOT LEVELS ! by Ironman8848 on TradingView.com

DAILY :


50 % Fibonacci retracement @ 0.00004689 has been filled. Currently traded around an important key pivot level @ 0.00004890 ( MBB ) !!!


Indeed, a failure to stay and hold on a daily closing observation above this level would be the first warning signal, calling for further downside. Next significant support level being @ 0.00003702.

WEEKLY :


Dark cloud cover pattern in progress ! A weekly closing below 0.5153 would confirm this pattern which also would be seen as an additional warning bearish signal; I would add that a weekly closing below 0.00004689 ( TS KS cluster) would also add further selling pressure which should accelerate the downside move calling for 0.00003702 which is also roughly the opening level of the long white bullish candle of the previous week (Opening @ 0.00003604 and Closing @ 0.00006706 with an intraweek high @ 0.00008870 !).

CONCLUSION :


Watch 0.00004890 on a daily closing basis and 0.00005153 & 0.00004689 on a weekly basis.


In the meantime, watch also carefully price action on shorter intraday time frames which will help you to get intermediate clues (validation or invalidation !) in allowing you to act accordingly.

Have a nice Friday.

Al the best

Take care

Do you like my analysis and do you find it is an added value for you ? If yes, please do not forget to like it and if you do not follow me yet, please also add Ironman8848 in your following list.

Many thanks in advance.

Ironman8848

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Other Asset Classes