SHIB - LONG + MAJOR SUPPORT TO WATCH FORRefer to my earlier post on SHIB for my buy levels, which 2/3 hit right on. Currently, we're observing the formation of an inverse head and shoulders pattern. To confirm a bullish trend, we need to surpass the Low Volume Node (LVN) with significant trading volume, which would indicate potential for upward movement.
Crossing my yellow line with volume will send us down the Marianas trench.
It's common to witness a dip below support levels prior to significant price surges; this phenomenon often acts as a "liquidity grab" or "spring," enabling large investors to purchase at lower prices due to the panic selling by others. This strategy allows them to accumulate assets inexpensively without greatly impacting the market price.
The volume surges seen in the hourly charts suggest that there is ongoing accumulation. SHIB is adhering to Fibonacci retracement levels.
While I don't have a specific prediction for the price ceiling, the prospect of reaching a Fibonacci extension of 0.618 or even higher is quite appealing.
