SHIB: Bullish DBW, at least 55% of the time
SHIB (Shiba Inu) is forming a Descending Broadening Wedge (DBW) since its last ATH.This is a Bullish Pattern according to Thomas Bulkowski.
He stated in his book "Encyclopaedia of chart patterns" that there is a 55% possibility of breakout to the upside in a Bull Market situation.
I know that 55% is not that high of a percentage but if we look closely, we’ll se that
SHIB price is currently at a very good support level which could add a logic to the conclusions of the idea of a breakout!Cheers,
Ghazi
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