SHIB before breakout
Updated
Shib is forming a second bullish pennant at the 4hr chart. Volume development fits the textbook. SHIB had the second largest social volume after Bitcoin last days.
Pole length of current flag is approx. 0.00005900 / 210% from latest breakout. Hence, first TP would sit at 0.0001240, second TP at 0.0001600.
Variant: SHIB consolidates a little longer and fills the pennant to its tip, as seen in the last pennant.
If price would close below 0.000059 - 0.000060, I would consider this strategy invalidated.
_____
Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes.
Never put your heart and your money in the same place.
You could end up with your balance getting f***** while you're doing the hard work.
Pole length of current flag is approx. 0.00005900 / 210% from latest breakout. Hence, first TP would sit at 0.0001240, second TP at 0.0001600.
Variant: SHIB consolidates a little longer and fills the pennant to its tip, as seen in the last pennant.
If price would close below 0.000059 - 0.000060, I would consider this strategy invalidated.
_____
Of course, this is not a trading advice, just my private analysis as well as a text for entertainment purposes.
Never put your heart and your money in the same place.
You could end up with your balance getting f***** while you're doing the hard work.
Trade active
Fresh decrease invalidated the pennant variant. Still could turn out to be a bull flag, but at this point it's make or break. A 4hr close below 0.000055 would invalidate any bullish view in my opinion. Still it was needed to build a true bullflag. Hence, handle with care.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.