Had a small pump from the lows and now appears to be breaking out from a 3 wave correction and this could be the start of the next wave up.
The 3rd wave is a contraction pattern also with contracting oscillation.
I think this may be a clue that quite a pump could be in the pipeline.

On weekly chart as we looked at before SHIB appears to be in a long contractive accumulation.
When SHIB pumps hard when it gets going and this could be very explosive.
Looks a great buy right here 👍.
Not advice.
The 3rd wave is a contraction pattern also with contracting oscillation.
I think this may be a clue that quite a pump could be in the pipeline.
On weekly chart as we looked at before SHIB appears to be in a long contractive accumulation.
When SHIB pumps hard when it gets going and this could be very explosive.
Looks a great buy right here 👍.
Not advice.
Nota
SHIBThe Wyckoff CREEK is not specific to market bottom accumulations, its all the same up high in re-accumulation (though you'll do well to find solid content on it).
Whether it be a cycle low, or a momentary wobble; it is the part of the corrective phase where the bearish impetus is weak and a tidy descending channel forms before a breakout to the upside.
SHIB is already in the skies but it looks like it is preparing for the next wave up 🙈.
Nota
Its nice that a few of you remember that I was very bearish on crypto once. Those were funny times.(See thread below).

And these are fun times also but with meme coins pumping hard, there could be a market correction in the pipeline...
Not just yet though, Bitcoin still looks solid.
Gravy train continues for now and we'll see if SHIB can have another wave up.
Nota
SHIBA significant bounce now looks on for SHIB.
Profit to be made here, but after such a steep slump I think there are other coins in better positions at this juncture.
You never know though with SHIB, it may have an electric pump again.
And it will probably at least get up to the 0.618 retracement; up 62% and perhaps much more...
But the really great trade for SHIB is in the past now I think that I made back in November 2023..
Remember that multipliers vs diminishing returns really do make a big difference.
The herd always want to chase after coins that already pumped hard.
But the big percentages are to be found with coins in deep positions 🤨.
Nota
There was a big bad bearish troll here on the 31st July .And on that day SHIB closed @ $0.00001458.
Now its 9th August and it did dump lower but price has recovered to $0.00001417.
This bear was extremely energised.
Here is their first comment:
"ArtfulDodger1974
Jul 31
Ugh, nope. Down over 20% since your update. Hope you stopped out already but let me guess, you already sold and was too busy to update the idea?"
And this is how it goes with bears that don't understand the crypto cycle...
They get highly aroused with bearish price action and they have a short moment where they feel good about themselves, and as with this troll here; they come-a trolling my thread because SHIB lost 20%...
But just one week later and price is moving on up 😼...
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.