✴️ Shiba Inu Double Bottom, Long-Term (280% Potential)
Shiba Inu is showing a double bottom pattern within 6 months and currently moving above EMA10 weekly, supported by a strong RSI.
Notice that volume has been flat since October 2021 as a continuation signal.
When things change, volume will go up.
In this case when new highs start getting hit volume will increase.
There was no increase in volume as new low were hit, meaning that the bearish wave has no more strength.
Here we have two targets mainly, there are many more in-between but we are looking at the stronger ones.
Short-term and easy target can be around 85%.
Mid-term and main target can be around 280%. Can be a bit less, or more.
I don't go about new highs because this can take a while and we are here on a daily basis, I can share new highs and new targets as the chart develops and prices go up.
The next All-Time High will be many times higher than the last one, so this would be a completely different type of analysis and something that we will keep for 2024.
Namaste.
Notice that volume has been flat since October 2021 as a continuation signal.
When things change, volume will go up.
In this case when new highs start getting hit volume will increase.
There was no increase in volume as new low were hit, meaning that the bearish wave has no more strength.
Here we have two targets mainly, there are many more in-between but we are looking at the stronger ones.
Short-term and easy target can be around 85%.
Mid-term and main target can be around 280%. Can be a bit less, or more.
I don't go about new highs because this can take a while and we are here on a daily basis, I can share new highs and new targets as the chart develops and prices go up.
The next All-Time High will be many times higher than the last one, so this would be a completely different type of analysis and something that we will keep for 2024.
Namaste.
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