Shib
Here’s my overall weekly shib chart
Since testing the 960 low, shib had a decent rally back to what I’m now looking at as a key downtrendinf roetsance around 1400ish
Before shibs sweet rally from the 800 lows, we found key support on the lower support line of what I’m drawing as a large considlation pattern potential.
We have now came back in after sideways considlation since testing downtrendinf line of reistance
We are testing rhe 960 level again which can setup as a double bottom Howver if Btc does decide to reject 30k-30,500 again and it’ll back towards 24k as I am expecting to potentially occur, shib could retest the lower end overall support
This wouldn’t be to bad of a look in my veiw, Becuase in order to confirm a larger pattern we need 3 touches minimum on each side.
So far shib has given me 2 reistances touches and 2 support touches. If we can pull back in for 1 more test of the lower end this would be around
830-840
If we just hold 960 support then we could just be in the middle of the range or making a differnt setup.
It’s been touch since it’s just been sideways for weeks. I would proably still take a buy at the 960 support and just hold it out and be ready for a potential test that’s not gaurenteed down towards 840.
If shib double bottoms here then 1400 would be the upper reostanxe. A breakout of the pattern targets
2100 however if this pattern is correct then we wouldn’t be looking for a breakout until closer to October or December.
Shib really needs to flip 1200 back into support to start showing more bullish outlook
Since testing the 960 low, shib had a decent rally back to what I’m now looking at as a key downtrendinf roetsance around 1400ish
Before shibs sweet rally from the 800 lows, we found key support on the lower support line of what I’m drawing as a large considlation pattern potential.
We have now came back in after sideways considlation since testing downtrendinf line of reistance
We are testing rhe 960 level again which can setup as a double bottom Howver if Btc does decide to reject 30k-30,500 again and it’ll back towards 24k as I am expecting to potentially occur, shib could retest the lower end overall support
This wouldn’t be to bad of a look in my veiw, Becuase in order to confirm a larger pattern we need 3 touches minimum on each side.
So far shib has given me 2 reistances touches and 2 support touches. If we can pull back in for 1 more test of the lower end this would be around
830-840
If we just hold 960 support then we could just be in the middle of the range or making a differnt setup.
It’s been touch since it’s just been sideways for weeks. I would proably still take a buy at the 960 support and just hold it out and be ready for a potential test that’s not gaurenteed down towards 840.
If shib double bottoms here then 1400 would be the upper reostanxe. A breakout of the pattern targets
2100 however if this pattern is correct then we wouldn’t be looking for a breakout until closer to October or December.
Shib really needs to flip 1200 back into support to start showing more bullish outlook
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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.