Hello traders 🐺.
today morning I was looking at my watchlist ,suddenly I found this amazing pattern for SHIB ; so make sure to read this idea carefully my dear friends because it could be very massive pump and if it happen you don't want to miss the train 🤯 .
for this specific chart I want to use past similar pattern in the chart and then we can conclude for the current price pattern and price targets :
as you can see in the chart , after the massive run up ; price start to retracement and create a bullish continuation pattern and after the break out by using the Fibonacci projection we can calculate the price targets for the SHIB and as you can see price hit 2.0 Fibonacci level.
but for the current price pattern there is a little bit difference because this is falling wedge pattern , and currently price testing deeper retracement compared to the past , as you can see in the picture below after price hit 2.0 Fibonacci level ; price started to retracement to the 0.786 Fibonacci retracement level but previously price just hit 0.5 Fibonacci retracement level .
so what is the price target for the SHIB if the pattern break to the upside ? 🤔
we have 3 different price target for this pattern or in the other word we have 3 price targets for current pattern in depends on your imagination for this price pattern :
1_ falling wedge :
usually the technical target of the falling wedge is the top of the wedge which in this case is at 0.618 Fibonacci level .
2_ bull flag :
if you count this as bull flag the target should be around 1.0 Fibonacci level
3_the past similar method which i talked about it in the beginning of this idea :
if we imagine price like to act look like the past movements we can say there is chance to reach 2.0 Fibonacci level which could be a massive price pump for the SHIB something around 300% move 🤯 .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for reading my idea🐺
today morning I was looking at my watchlist ,suddenly I found this amazing pattern for SHIB ; so make sure to read this idea carefully my dear friends because it could be very massive pump and if it happen you don't want to miss the train 🤯 .
for this specific chart I want to use past similar pattern in the chart and then we can conclude for the current price pattern and price targets :
as you can see in the chart , after the massive run up ; price start to retracement and create a bullish continuation pattern and after the break out by using the Fibonacci projection we can calculate the price targets for the SHIB and as you can see price hit 2.0 Fibonacci level.
but for the current price pattern there is a little bit difference because this is falling wedge pattern , and currently price testing deeper retracement compared to the past , as you can see in the picture below after price hit 2.0 Fibonacci level ; price started to retracement to the 0.786 Fibonacci retracement level but previously price just hit 0.5 Fibonacci retracement level .
so what is the price target for the SHIB if the pattern break to the upside ? 🤔
we have 3 different price target for this pattern or in the other word we have 3 price targets for current pattern in depends on your imagination for this price pattern :
1_ falling wedge :
usually the technical target of the falling wedge is the top of the wedge which in this case is at 0.618 Fibonacci level .
2_ bull flag :
if you count this as bull flag the target should be around 1.0 Fibonacci level
3_the past similar method which i talked about it in the beginning of this idea :
if we imagine price like to act look like the past movements we can say there is chance to reach 2.0 Fibonacci level which could be a massive price pump for the SHIB something around 300% move 🤯 .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for reading my idea🐺