The line (200ma) is just below the 50ma and the coins JUMPS up. On a couple of occasions the 200ma has been ABOVE the 50ma and the coin has dipped then recovered towards and up trend AND then, gone UP again. This only happens in the 1 HR. The 30 min TF shows that it is close with all Mas (7, 20, 50 & 200) bunching. Volumes are low – another indication WHEN will the white meet the other lines (over night?? - OUCH - missed it). When they do meet up, will the white be above or below and for how long will it 'wiggle' before a move? The 50ma is below for an UP. The 50ma is above for a down. Right now, the 50ma is above - so not going up yet. BUT when, when when. It would be good to be 100% sure and to catch a good trade. Local trends lines show consolidation with price action. My gut says it could break upwards in the next few hours (or even in less than an hour). Not a massive jump, but significant enough. Consolidation periods last from 2 days to 14 days - this one is 5 days & 8 hours so far. My target would be (1) $146 and then (2) the old ATH of $155 and (3) a new ATH of around $175 My stop loss would be around $118.50 I have set up a limit order to trigger at $128.90 - this will prove the local break out and up. NOTE: It might re-test. ALSO, it has to break the main trend line.
Only my thoughts and not financial advice. DYOR and check the charts.
I'm not in this one but I admire your analysis. Good work!
esorlegin
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@StofAxeCapital, Thanks mate - thats the simple version - my working charts look like a war zone :-) - I sure you have the same issues (did I see one of yours on SHIB - I am sure I did)
StofAxeCapital
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@esorlegin, Haha yeah for sure completely understand. I clean it up a little bit but I just let everyone see it all for the most part. I have other techniques that I will throw around if I'm uncertain on things. I'm big on SHIB holding that one longterm with some trades in the process.
esorlegin
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@StofAxeCapital, same, same. 4.5 million shib for a massive $50 I think - just sitting in the hodle źone waiting to be set free. Bought because I don't like the DOGE crap and hype and I do like the project and utility of SHIB - I do think it will go places - especially now that that have the shibburn thingy - along with all the other applications. Now all it needs is Amazon to go ahead and adopt it
StofAxeCapital
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@esorlegin, between the NFT burn Nowpayments & the dead wallet to burn, SHIB will gain a lot of momentum to start rising. In the next 3 months we will see this grow a lot faster than we believe. I do believe .01 is possible, but it won't be easy. Years out we could maybe see $1+ if the burns continue to be adding up. Market cap will be growing due to crypto adoption from all the marketing for crypto alone.
esorlegin
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@StofAxeCapital, you might like to have a quick look at SHIb now - weird thing - in 5 min TF, it is using 200MA & EMA as support - I have seen that at a low TF before - around September 28th/29th just when the coin started to shoot up. Going to let it run overnight - bed time here.
StofAxeCapital
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@esorlegin, Yeah I like SHIB overnight. It's creating space on the 4 hour between my moving averages, which typically means its soon to run