Cris Cors

SHIB/USDT is in a long-term bullish trend, but is also showing signs of short-term weakness and correction.

some key points:

The price is below the 20-period SMA, indicating that the trend is bearish in the short term.

The price is also close to the blue trend line, which acts as dynamic support and could trigger an upward bounce.

RSI is in balance, meaning there is no dominant buying or selling pressure.

STOCH RSI is close to the overbought zone, suggesting that the bullish momentum is running out and a drop could be coming soon.

PPO is slightly positive, indicating that momentum is bullish.

MOM is negative, The price is falling.

This could be a sign of bearish divergence, meaning that price and momentum are at odds and there could be a change in direction.

PVT is very high, it indicates that there is a strong accumulation of assets and that the trend is bullish.

EOM is at zero, indicating that the price moves equally easily in both directions and that there is no dominant pressure.

ATR is very low. It indicates that the market has low volatility and that price movements are small.

This could mean that the market is in a consolidation phase and there could be a breakout soon.

Entrances and Exits

A long position (buy), you could wait for the price to bounce off the blue trend line or the red support level, and confirm that the RSI and STOCH RSI break out of the overbought zone.

You could put your stop-loss below the previous low and your take-profit at the previous high or the sloping resistance. If you want to enter a short position (sell), you could wait for the price to break the blue trend line or the red support level, and confirm that the RSI and STOCH RSI enter the oversold zone

You could put your stop-loss above the previous high and your take-profit at the previous low or tilted support

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