Hey friends hope you are well, and welcome to the new update on SHIBA INU (SHIB) token.
broke out pennant:
At the end of Oct 2021 Shib started the formation of bearish pennant on daily time frame and for a long term the priceline was not able to breakout this pennant even after several attempts. Finally when the price action of Shib found a floor at $0.00002950 then after some accumulation it has broken out the resistance of this pennant . Now we can also set our stop loss below the support of $0.00002950. Because if this support will be broken down then a big drop can be started.
No bearish divergence:
It can be also observed, that while the priceline broke out the pennant and even after breaking out this pattern there is no bearish divergence on the chart which gives any signal for the fake out. Therefore, this time Shib can start a big move.
The targets can also be set as below:
1st target: $0.00004875
2nd target: $0.00007745
Don't forget to upvote/tip and share the post, thanks
You can also support my work at Patreon for more ideas:
https://www.patreon.com/moon333
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3
Link for Binance exchange, to trade crypto:
https://www.binance.com/?ref=11256882
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
▶️ 3Speak
