Possibly the biggest update for SHIB in WEEKS!!! Reversal??
SHIB has been in a slump for a while.. we can all agree on that right? OK so here is what right now is a big deal. We finally 'officially' formed a flat bottom triangle.. Then on top of that.. we had a nice breakout from that triangle. It was only 5% break but that's all that is needed sometimes for a reversal break. Ok so what we want to see AND not see now:
-We DO NOT want price to fall back into the descending triangle.
-We DO NOT want SHIB to fall below the major macro uptrend line (the thick yellow line).
-We WANT SHIB to slowly rise and bounce off of both the top line of the descending flat bottom triangle and/or bounce off of the uptrend. Causing squeezes up against resistance levels to push through. Continued bull pressure could allow this to happen.
If SHIB can continually slowly rise and not fall into the triangle or fall below the macro uptrend.. It has a real chance to continue bull.. BUT... BUTTTTTT. This is a big ol butt... Remember all of those above resistance lines and area are STRONG now. Real strong. The fight is going to be on for sure. Major pumps are going to be needed. Will the pup gather it's strength to combat the bear forces? We will have to wait and watch to find out!! GO SHIB GO! Cheers -DiMarco
-We DO NOT want price to fall back into the descending triangle.
-We DO NOT want SHIB to fall below the major macro uptrend line (the thick yellow line).
-We WANT SHIB to slowly rise and bounce off of both the top line of the descending flat bottom triangle and/or bounce off of the uptrend. Causing squeezes up against resistance levels to push through. Continued bull pressure could allow this to happen.
If SHIB can continually slowly rise and not fall into the triangle or fall below the macro uptrend.. It has a real chance to continue bull.. BUT... BUTTTTTT. This is a big ol butt... Remember all of those above resistance lines and area are STRONG now. Real strong. The fight is going to be on for sure. Major pumps are going to be needed. Will the pup gather it's strength to combat the bear forces? We will have to wait and watch to find out!! GO SHIB GO! Cheers -DiMarco