$SHIB is setting up for an interesting move on the 1D chart.
Price is sitting around a key buying order block at $0.00000534–$0.00000554, which is the main zone I’m watching for a potential reaction.
If buyers defend this area, the first objective is around $0.0000060, with the next major resistance sitting at $0.00000622–$0.00000649.
A clean break and hold above that supply zone could open the way toward the higher target around $0.0000075–$0.0000080.
For me, the key is how SHIB reacts at these levels rather than chasing the move. A decisive loss of the buying zone would invalidate the bullish setup.
Watching the structure closely. NFA.
Price is sitting around a key buying order block at $0.00000534–$0.00000554, which is the main zone I’m watching for a potential reaction.
If buyers defend this area, the first objective is around $0.0000060, with the next major resistance sitting at $0.00000622–$0.00000649.
A clean break and hold above that supply zone could open the way toward the higher target around $0.0000075–$0.0000080.
For me, the key is how SHIB reacts at these levels rather than chasing the move. A decisive loss of the buying zone would invalidate the bullish setup.
Watching the structure closely. NFA.
