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SHIB / TetherUS
Long

SHIB ready to pump again?

By bizmark
Updated
Shiba Inu seems to be ready to break up this triangle📐 and if successful I think there is chance for run to 0.00004120 and even higher. Will SHIB get it's bone?🦴🐕
  • ENTRY: local high @ 0.00002787
  • SL: local low @ 0.00002540
  • TARGET: height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT - SL) @ 0.00004120
  • RRR: 5.4
  • INVALIDATION: when SL level hit


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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Trade active
Order filled ✔️
Note
Running well. We need to break these 2 resistances (shown on chart below) to get to the target. 🦴
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SHIB's next try to break the resistance:
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Failed again, resistance still holding. Strong selling pressure. Will the orange uptrendline support the price and boost it higher?
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Going as expected. Orange uptrendline providing support while the resistance didn't allow price going higher. I think the price could break up through the resistance in a few hours.
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So SHIB broke down actually. Now needs to hold the support zone - previous local range high (BUY STOP-LIMIT blue), range midpoint (lime) and triangle lower edge (yellow uptrendline)
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The BUY STOP-LIMIT (entry point) holding quite well for now. Will we see sort of price action like this? 👇
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Bounced up to the red downtrendline and now is back down testing the yellow uptrendline. Will it hold?
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Trade closed: stop reached
SL hit. The yellow uptrendline didn't hold and SHIB got slammed. I'm out, but monitoring further. Will post new idea if I see anything.
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New idea down below, posting here bit late:
SHIB ready to pump again? 2
altcoinsChart PatternscryptodogedogecoinshibshibainuSHIBBUSDshibusdSHIBUSDTTrend Analysis
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