- Shiba Inu is absolutely ready for a massive breakout! I recommend to buy Shiba Inu right now because the technical analysis gives us a strong buy signal!
- As you can see, the price is breaking out of the descending channel with a successful retest. After the retest, I don’t see any reason why Shiba should go down at this point.
- There are absolutely no unfilled GAPS below the current price, so it is extremely positive for the bulls. There is no reason to short SHIBA for the bears; they would prefer other coins.
- From the Elliott Wave perspective, inside the descending channel we can spot a zigzag , which is a corrective pattern. Usually, you want to buy a breakout of corrective patterns for an explosive move!
- There is no doubt that Shiba Inu knows how to pump drastically, and what can happen to you is that you wake up in the morning and you will see a huge green dildo, so I think you want to fill your bags before it happens!
- Also, we have a double bottom pattern on the macro scale between the previous swings from June 2022 and December 2022. Another great sign of a trend reversal.
- The most important question at this point is where to take profit. You don’t want to take profit earlier than at the POC of the previous symmetrical triangle from 2021–2022.
- Be greedy and make sure you double your investment! Also you can long on futures with a reasonable stop loss!
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
Shiba Inu will double in price, right now!
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Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.