Hi boys and girls!
Welcome back to another analysis. We're going to get straight to the point so let's begin. We can see that SHIB is trading in a symmetrical triangle. The price can go 2 ways. Either it breaks out to the upside or the downside.
So what do we see on the chart:
- We see a symmetrical triangle
- Bollinger Bands are shrinking = potential explosive move in the future
- Volume is decreasing = potential explosive move in the future
- SHIB is still trading below the 50 EMA. If the price begins to trade above the 50 EMA, this would be a very bullish sign.
What about the targets:
- First target is around 22% ($0.00006285)
- Second target is around 49% ($0.00007667)
- Third target is around 70% ($0.00008673)
BONUS:
- BTC is showing more strength. It also broke out of the range.
Conclusion:
We will wait and see where the price will break out. If the price breaks out to the upside, then we can potentially go long. If the price breaks out to the downside, then we can go short. Either way, we make money.
If you think that this analysis has value, don't forget to support this idea with a like. If you think this analysis was shit - feel free to follow me.
Welcome back to another analysis. We're going to get straight to the point so let's begin. We can see that SHIB is trading in a symmetrical triangle. The price can go 2 ways. Either it breaks out to the upside or the downside.
So what do we see on the chart:
- We see a symmetrical triangle
- Bollinger Bands are shrinking = potential explosive move in the future
- Volume is decreasing = potential explosive move in the future
- SHIB is still trading below the 50 EMA. If the price begins to trade above the 50 EMA, this would be a very bullish sign.
What about the targets:
- First target is around 22% ($0.00006285)
- Second target is around 49% ($0.00007667)
- Third target is around 70% ($0.00008673)
BONUS:
- BTC is showing more strength. It also broke out of the range.
Conclusion:
We will wait and see where the price will break out. If the price breaks out to the upside, then we can potentially go long. If the price breaks out to the downside, then we can go short. Either way, we make money.
If you think that this analysis has value, don't forget to support this idea with a like. If you think this analysis was shit - feel free to follow me.
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