The chart for SHIB/USDT on the 4-hour timeframe appears to be forming a potential "Double Bottom" pattern, which is typically considered a bullish reversal pattern. This pattern is characterized by two distinct lows at approximately the same price level, indicating a level of support. The price action between the two lows often forms a peak, known as the "neckline."
- Entry:0.00001500 (upon confirmed breakout)
- Stop-Loss:0.00001250
- Take-Profit:0.00001700
- Entry:0.00001500 (upon confirmed breakout)
- Stop-Loss:0.00001250
- Take-Profit:0.00001700
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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.