For about a few hours now, I have been monitoring the price and RSI movement on $Shib. In this post, I will be sharing with you what my thought is on the coin.
#Shib caught my attention on Binance after it plunged in price to about -20% from its ATH, and was trading at $0.00005789 at the time I noticed it. Immediately, I pulled up the chart on TradingView, and here was what I saw.
As you can see, I immediately drew the yellow line hoping it drops to that point as its new support. Interestingly, this price was its ATH some weeks back. Also, viewing the chart with a 4hrs time frame shows that $0.00005 also stands to be the only support.
Truth be told, I never traded Shib but while staring at the chart, I was entirely all in to place a buy order. Although, I didn’t buy it after several hours until a friend messaged me on WhatsApp that he wants to buy shib too. I shared with him the chart and he said I should buy him some of it at the current price which I did.
A few hours after, shib/busd bounced back to $0.00006. At this point, I was pained that shib/busd might be ready to bounce from here. So, I canceled my order and replaced it at $0.000055.
Lo and behold, the next morning, shib/busd was trading at $0.000053. My order got filled and I was already taking some L. I stared at the chart again and the $0.00005 price I marked on the chart still looked possible. At this point, I decided to only lurk at the chart and not risk any other fund.
Later in the day, shib/busd dropped below $0.00005 and was trading as low as $0.000043. At this point, I was extremely mad at myself and boiling 😡 for buying at $0.000055.
However, I had also placed a few conditions on the chart. which are;
If the daily price doesn’t close above $0.00005, the chart would get pretty bad. Or if the weekly price doesn’t close above the same price, I’d end up holding shib/busd till it recovers. Which I would not want to do.
As of the time of writing this post, I’m glad to say that shib/busd is trading at 0.000052, which is above the support line I drew some hours back.
As it is now, I’m hoping we flip and close the daily at above $0.000055. If it does, this weekend would be so good for me.
Conclusion
I regret not listening to my instincts and went ahead to close my first buy order at $0.00005.
Cryptocurrency investment is subject to high market risk. I’m not responsible for any of your investment losses. The opinions and statements made above should not be considered financial advice.
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We all see this coming but one thing I know for sure is that the price will recover
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I think so too
Yea that’s what I’m thinking too.
Instincts can mess up, Shiba is doing some movement that is difficult for people to even place a finger on. Anyways the money is real. @tipu curate
For your efforts.
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That is why it is sometimes good to avoid investing with emotions..
Upvoted 👌 (Mana: 52/72) Liquid rewards.
Yea. I would have owned more shiba right now if I had waited as I thought. But it is what it is.
Thanks for stopping by and for the curation.
You should know that the cryptocurrencys are very volatile and anything can happen at any time,few hours it up,few hours it down,but all in all you can keep watching shib you might be lucky the price will go up again,so don't loose hop
Yea I know about the volatility of cryptocurrency. And I didn’t buy shib with the fund that would hurt me if I lose all. So yea I know the rules heheh.
Thats a nice decision man.
Yea.
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