SHIB UPDATE

Altcoin Update: SHIB (Shiba Inu)

Yep, FOMO is RREAL

FOMO is Fear Of Missing Out. If you haven't seen how it looks like, please refer to the chart.

FOMO is when you see that massive, parabolic move up (successive long, green candles) and you feel the need to join, to hop, get a slice of that delicious pie, or miss out on the talk of riding the biggest gain of the year. After some second thoughts, you finally give in and decide to get in the trade expecting the parabolic move to go even higher — unfortunately, you bought the top, the peak, the turning point, the reversal. Things go south quickly from your entry point, and you see red all over.

So where is FOMO in the chart? That wick from the peak is FOMO right there. That was once a long green candle which later on got decimated by profit-taking, by heavy selling — which is still continuing by the way as of this writing (-40% from the peak). This loss gets worse if you did not practice good risk management, by going all in on this trade (which happens in real life). If you allocated $10,000 for this single trade thinking you'd get easy money — well you just lost $4,000 in 2 days.

This is why a trader should learn to recognize FOMO, and master his/her emotions — because FOMO is disastrous, because FOMO is REAL.

We are using Fibonacci here in addition to the usual, so the possible areas of interest are the following:

Support

0.00002022

0.00001665

0.00001206

0.00000900

50EMA

100EMA

0.00000503

Resistance

0.00002379

0.00002820

0.00003533