🔥 SHIBA Bullish Triangle: Moment Of Truth
In my last SHIBA analyis I talked about an incoming break out of this asset. The target at 1200 was reached and proved to be a strong resistance. Congratulations if you took the trade.
For now, the 1200 area still causes trouble for the bulls. After three rejections we're now again trading down and retesting the bottom support of the bullish triangle.
Theoretically, the probability for this pattern to break bullish is larger than a bearish break. However, with BTC falling a bearish break out seems closer than before.
In case of a bearish break out through the bottom support, I'm looking at a 950 target. In case we break bullish through the top resistance my target is at 1300. Be patient and wait for the break of either support or resistance.
For now, the 1200 area still causes trouble for the bulls. After three rejections we're now again trading down and retesting the bottom support of the bullish triangle.
Theoretically, the probability for this pattern to break bullish is larger than a bearish break. However, with BTC falling a bearish break out seems closer than before.
In case of a bearish break out through the bottom support, I'm looking at a 950 target. In case we break bullish through the top resistance my target is at 1300. Be patient and wait for the break of either support or resistance.
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