Looking at a triangle on the 30m and downward sloping resistance on the daily, idea for a 2% move to the downside breakout trade.
You can make your own ideas on entries and exits here but personally I'm short from resistance looking to capture around 70-80% of the move.
More conservatively you could enter on the break, or on a confirmation of a retest for the...
All of the ideas here are based completely off of reasonable chart pattern breakdowns, giving us a price target of NEGATIVE $2000. Guys. I might be wrong here. In fact, I'm willing to bet I'm wrong. I will buy your bitcoin for $0 right now. Feel free to reach out to me through tradingview and I will provide you with my bitcoin address.
My entry was 96.17
StopL 87.68
TakeP 116
Risk/Reward ratio 2.14
Cup and handle pattern, volume on break is fairly decisive as well. Major support at around 96.17 as it held as resistance twice in the cup and handle pattern.
Disclaimer: I have only been studying Elliott Waves for a few weeks.
That said, this chart pattern looks pretty clear to me.
I believe we are currently in an ABC (5-3-5) corrective wave on SHIB/USDT, it is forming a triangle in the B wave, and this triangle will most likely break up to finish the C wave. Whether it goes higher or lower than the A, I don't...
