Ribsy
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To Shib or not to Shib

To Shib or not to Shib

Oct 19, 2021

There's plenty of people running very volatile coins during this quiet October. Shiba is one of my coins I usually wouldn't pick just because its a meme coin and I've seen the price action of the charts in the past and it scares me. But those that are active with their bots and able to identify weakness or know their technical analysis and their s/r levels can still run a SHIB bot and take advantage of the volatility. Some are running SHIB bots and they understand the risks. If you are one that doesn't mind the risky bots adding a few to your portfolio is your own choice, but make sure you know when to disable them and even consider closing them early at market price if you sense weakness, to avoid a big red bag scenario. Shiba is quite high in the market cap now, and has plenty of volume and volatility, there's some real use too, so not just a meme coin. Only thing that worries me is potential big dips. The base rank is low, but there's not many reviews on baserank.Lunar crush results shows its very high in the ALTRank mainly due to social support volume. The SHIB Army. But Galaxy score isn't that appealing

But based on recent Chart Price Action, it look great for bots. For a short term bot, its a valid option.

What would you consider as weakness? If you feel a correction is coming, if you think there's a dip, if it reaches all time highs, if it falls past a certain support level etc. Make your own decisions what you consider as weakness and when you will manually take control and stop the bot.

This kind of chart you know there's chances of huge dips

For passive people, we don't want to pick these coins, but I see the enticement to pick Shiba so will cover what to look out for. SHIB is run by quite a few people I know and so far its been a decent profit for those that took the risk. Not sure if we're too late to jump on now, but it paid off so far for those that ran it.

I've zoomed into the 30 min chart and focusing only on the recent price action. Look at the 41% price drop! That's scary if there's no recovery bounce. There's two support lines 1, and 2. I would be a bit more cautious if 1 is lost. I would really be worried if 2 is lost. This is just applying basic charting and common sense using S/R resistance lines. Those with better TA would have better ways to know when its time to stop a risky bot. But this is a basic idea that you could use, it may not stop you from a sudden flush down, but you know when to start worrying at those levels.

This isn't a lesson or a post to scare people, just a discussion and analysis and what to do if you are picking riskier volatile coins, you need some kind of indicator when you should consider stopping that bot. Will they make enough to cover the losses if you suddenly need to panic sell if you feel it won't automatically DCA out? Treat them as short term bots and pay more attention to them. The only thing that counts is are overall in profit? Do you mind actively monitoring your bots? Its definitely a valid strategy to run.

Good luck botting all! And thanks for being a supporter!

Also make sure you check the new paper trade for some setting ideas you can backtest or play around with too on paper trade. Nothing is more reliable and valid as a real live test though. More info in the FAQ on discord, but I'll find some time later to give a more detailed reason why I picked each setting.

https://docs.google.com/spreadsheets/d/e/2PACX-1vT6R6Zt1_xH7xpo_e4vTYwI1sr4uWe5GauhnaY2KtwS2J9pjNttjnvyjhaMScxdX9ztvGjFmVErW603/pubhtml?gid=224833846&single=true

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