Shib
2024-12-08

Although we haven’t pulled back in again we are testing critical resistance of the weekly chart. Between 3200-3300 shib is testing for the 3rd touch of the downtedning resistance. 

Could we actually get a rejection here and pull back down for one last reload attempt ? Currently we seem to be fighting between 50% support of 2866 and the resistance from .382 fig around 3280

If shib can pop 3300 we should see a swift move to 3700 but if we reject its possible for a pull back to 2866 which is the 50% and if we lost that would
Be around 2455 which is .618

I can’t tell just yet which way shib will go, either way we should be positioned nicely already as I have been posting between 2700-2900 buy areas   That continues to be the case until we pop 3300 with conviction then 3300 could be support zone to buy. Let’s just wait and see how this reacts. 

If this is a larger downtrend resistance pattern like this, shib could see as high as 0.0001700 within this cycle 
Thanks for reading ! Let me know what you think shib will do if you made it this far comment breakout or pull back!