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SHIB / TetherUS

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SHIBUSDT trade ideas

SHIB/USDT In the crucial area, Could SHIB Breakout or Rejected ?💎 SHIB, a notable player in the market, is currently advancing towards a critical supply area. Recently, SHIB faced a strong rejection at this juncture. For continued upward momentum, SHIB needs to break through this supply area. A confirmed breakout, probability could set the stage for SHIB to progress towards our identified strong resistance area. 💎 However, should SHIB struggle to breach this resistance and instead consolidate at this level over the next few days, it might face another rejection. Such a development could lead SHIB to retreat towards the support level at $0.00092. 💎 The support area at $0.00092 plays a pivotal role in SHIB's trajectory. A robust bounce from this level is necessary for SHIB to attempt another breakout of the supply area. Failure to sustain and rebound from this support could indicate weakening buyer momentum, raising the possibility of losing this support level. If SHIB breaks below this support, it could be directed towards the lower bullish OB area.
by MyCryptoParadise
Mock Up Price Action for SHIBUSDT | Mid Term (12HR)Mock Up Price Action for BINANCE:SHIBUSDT | Mid Term (12HR) - Watching and waiting for opportunities - I've got 'Crazy', 'Crazier', and 'Dafuq' Mapped Out Personal Approach & Base Chart Setup - Stacked Parallel Channels for Grid of Confluence Points - High Time Frame (HTF) Fib Extensions, Retracements, & Time Cycles - Red Filled Horizontal Rectangles between areas of major Fib level from Extensions and Retracements - Price Label Callout with Red Circle highlighting points of interest where I'd consider making a trade - I will consistently monitor and adjust taking into consideration long/mid/near term price action and market conditions/news - I do this not to predict the price, but rather, to prepare myself and have a plan for all possible scenarios playing out. So that when the time comes, I can make an informed decision with multiple contingencies having monitored the price action over time and in consideration of multiple scenarios (however unlikely they may be) playing out
by Trevictus
3
Bullish Triangle Bullish Patterns: Inverse Head and Shoulders: This pattern consists of three lows with the middle low being the deepest. It indicates a reversal from a downtrend to an uptrend. Double Bottom: Similar to the inverse head and shoulders, it signifies a reversal and is formed by two lows at roughly the same price level. Inverse Head and Shoulders (Head and Shoulders Bottom): Formation: This pattern consists of three lows, with the middle low being the deepest (the "head"), and the other two forming higher lows (the "shoulders"). The line connecting the highs of the shoulders is known as the neckline. Reversal Signal: The Inverse Head and Shoulders pattern is considered a bullish reversal pattern. Once the price breaks above the neckline, it is often interpreted as a signal that the downtrend may be reversing, and an uptrend might be beginning. Double Bottom: Formation: The Double Bottom pattern is formed by two lows at approximately the same price level, separated by a peak (the "bottoms"). The line connecting the peaks is the neckline. Reversal Signal: Similar to the Inverse Head and Shoulders, the Double Bottom is also a bullish reversal pattern. The breakout above the neckline suggests a potential reversal of the preceding downtrend and the start of a new uptrend. Both patterns are part of technical analysis, which involves studying historical price charts to predict future price movements. Traders often use these patterns, along with other technical indicators, to make informed decisions about buying or selling financial instruments. It's important to note that while these patterns can be useful, they are not foolproof, and traders should consider multiple factors in their analysis.
Long
by soni57