CRYPTO - SHIBA - What goes up must come down. Beware
CRYPTO - SHIBA - What goes up must come down. Take care people. New highs being set on weakness in RSI and on lower volumes. Bearish Divergences are appearing and last time this happened price went sideways and ticked down for over a week.
RSI - Relative Strength Index is lower on the new high which means the buying strength is weaker.
Volume - Volume is lower on the new high so there are less people buying.
Stochastic RSI - Fast STO at 95 which normally points to consolidation time.
The chart is getting weaker. You may get one more push up before a correction but time to start using a trailing stop loss if you want to ride this rollercoaster. You do get a lot of bearish divergences in uptrends so there is less conviction in a short. More a warning to the uninitiated.
RSI - Relative Strength Index is lower on the new high which means the buying strength is weaker.
Volume - Volume is lower on the new high so there are less people buying.
Stochastic RSI - Fast STO at 95 which normally points to consolidation time.
The chart is getting weaker. You may get one more push up before a correction but time to start using a trailing stop loss if you want to ride this rollercoaster. You do get a lot of bearish divergences in uptrends so there is less conviction in a short. More a warning to the uninitiated.