SHIBUSDT Will skyrocket if it breaks this pattern

17 nov 2022

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For this particular analysis on SHIBUSDT we are using the SHIBUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where SHIBUSDT has been trading within a Triangle pattern since the May fall. Based both on the price action and the 1D RSI sequence, it resembles a lot the 'Accumulation' Triangle that followed the May 2021 fall. This pattern broke hyper parabolically to the upside, when the price broke above its top (Lower Highs trend-line). =

Of course the fundamentals at the time were (much) different but patterns tend to follow certain human psychology behind them. If the market does enter into a new Bull Cycle by the time SHIBUSDT breaks above it's Triangle, it is not that unlikely (having the right fundamentals behind it, e.g. Twitter) to see it hit the 0.000025 - 0.000030 zone, being one of the first token to turn parabolic and lead the bull season.



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