It will take some time, but shib will eventually move up again.
Of course all coins will go up over time, its just in what manner we question. the Elliot wave principal suggest it will just repeat into infinity
Technically the Market is in an Uptrend, because it is moving above the 200MA and also above the 50MA.
But we can see the market is making lower lows.
Resistance @ 1.26700
weak Resistance @ 1.25300
Support @ 1.22500
Parallel Channel 1, 2 (+ potential 3) - descending
Trendline 1, 2 - ascending, supporting
I guess 56 hours of non-stop analysis payed off
in a form of followed 56 hours of pleasant observation,
of how the forecast predicts
with 95% precision all the price movements)))
Now this is the time for the bulls to get into play.
Probably on Monday, or even in the following 4-5 hours
we will observe a huge price.
A lot of confirmations kicked in,
I have already buy this currency pair in order to catch the movement to the upside. The structure looking good and strong for at least 100 pip movement on daily and also on 4H time frame. However my prediction is that GBP/AUD will reverse to the downside soon with head and shoulders pattern, but these is not a realistic trading idea. It's just a...
My third idea for Oil (and the worst of the three) is that we're in a zigzag (5-3-5) pattern for Wave-2. I decided to keep Wave-C above 50% retracement of the larger Wave-2, so that we could actually be in Wave-2 and be impulsive. Doesn't need to be the case.
I don't care because I will be dead before Wave-3 in this case, haha. Something like 2080 before Wave-3.
Bart patterns and such a manipulation is going on, we may bounce back a bit and then go straight forward to 6600. In previous analysis we did not hit the support levels which was 30% chance, but going above 6360 as i mentioned with 6400 breakout (My sl tooked) This may change a game for a short time only.. Or we may see another bart thing on the 6600 ? I could...
Not expecting the third part of bart pattern, 6160 will be interesting level. But i think this end of bart pattern let us see below 6k usd. I give low chance to bounce back again to 6400 when we hit the support level at 6160-80 .