As we can see price is near major daily support zone now and here we have one of the last daily supports which is currently touching and price can easily receive bull candles and start pump like green arrows if the supports hold.
DISCLAIMER: ((trade based on your own decision))
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SHIBUSDT is currently testing a key horizontal resistance zone around 0.011321, after printing a short-term range and failing multiple attempts to break higher. This level has acted as a ceiling for price, rejecting bullish momentum on several occasions.
The current setup reflects a short entry at resistance, aiming to catch a pullback or possible trend continuation to the downside. With the stop loss placed just above the most recent highs at 0.011433, the take profit sits lower around 0.011005, aligned with the lower demand region or trendline area.
This trade offers a clean risk:reward profile based on horizontal structure and price rejection.
🧩 Trade Parameters:
- Entry: 0.011321
- Stop Loss: 0.011433
- Take Profit: 0.011005
🔢 Risk:Reward Calculation:
- Risk: 0.011433 − 0.011321 = 0.000112
- Reward: 0.011321 − 0.011005 = 0.000316
- Risk:Reward Ratio: 1 : 2.82 ✅ (Excellent)
✅ Bias:
Bearish rejection from local resistance
🔄 Confirmation Needed:
- Rejection candle or wick at/above entry level
- Break below previous minor low or consolidation base
- Weak volume on bullish attempts
❌ Invalidation:
Break and hold above 0.011433, suggesting possible bullish continuation
