SHIB printing a bigger descending triangle
Here's a quick Look at SHIB 4 hr chart. As we can see, the price has been forming a bigger descending triangle and we could see a bigger break to the upside soon - BTC just need to get stable! Definitely one to keep an eye on.
The best entry would be, when the price breaks above 0.00006$ with good amount of volume .
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The idea is: Buy the breakout from 0.0000615$ and take profits at the levels shown in the chart.
Targets:
1. 0.0000625$
2. 0.000072$
3. 0.000081$
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
The best entry would be, when the price breaks above 0.00006$ with good amount of volume .
-------------------------------------------
The idea is: Buy the breakout from 0.0000615$ and take profits at the levels shown in the chart.
Targets:
1. 0.0000625$
2. 0.000072$
3. 0.000081$
-------------------------------------------
What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern, if validated, or a powerful reversal pattern, in the event of failure.
3. There are three potential triangle variations that can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
-------------------------------------------
If you like the content, then make sure to comment and like the post :D
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
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