SHIBA: story of 2 love triangles; next scenarios & TP levels
SHIBA update.
SHIBA recently brokeout of 2 trendlines but since has retraced back inside the smaller symmetrical triangle as expected from a big jump. See chart for the next 2 scenarios & next target levels.
Breaking out of the symmetrical triangle will be good but SHIBA has to BO above the ascending triangle
to be really bullish.
Highest probability is that it will find resistance at the top of ascending triangle 0.000030, be rejected but it will hold 0.00002865 for a consolidation (smaller red zone) first before continuing rally to BO. After that a much bigger pivot resistance at the bigger red zone (0.00003247), which may take a while to break.
Not trading advice
SHIBA recently brokeout of 2 trendlines but since has retraced back inside the smaller symmetrical triangle as expected from a big jump. See chart for the next 2 scenarios & next target levels.
Breaking out of the symmetrical triangle will be good but SHIBA has to BO above the ascending triangle
to be really bullish.
Highest probability is that it will find resistance at the top of ascending triangle 0.000030, be rejected but it will hold 0.00002865 for a consolidation (smaller red zone) first before continuing rally to BO. After that a much bigger pivot resistance at the bigger red zone (0.00003247), which may take a while to break.
Not trading advice
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