- On the daily chart the price is printing an inverse head and shoulders that is currently breaking out!
- Also we have a huge descending parallel channel , so be careful, because there is always a possibility that we will be rejected at the top of the channel.
- As per my Elliott wave analysis – the ABC retracement should be completed ( ZigZag 5-3-5) and now we should go up at least temporarily.
- Wave B is always a strong resistance + 0.618 FIB, place your profit target here.
- https://www.tradingview.com/chart/SHIBUSDT/m2uuOWbC-Shiba-Inu-Head-and-Shoulders-is-breaking-out-Elliott-Wave/
