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Wednesday, February 21, 2024

February 20, 2024 at 11:35PM SHIB (Shiba Inu) Technical Analysis & Short Trade Setup

SHIB (Shiba Inu) Technical Analysis & Short Trade Setup


SHIBA INU has been experiencing significant selling pressure, compromising its previous bullish trend and indicating a potential reversal. The 50% Fibonacci retracement level presents a logical entry point for a short position. As the market seeks liquidity, price action could target previous swing lows. Consider initiating a short position on #SHIB at the 50% Fibonacci retracement level with targets at previous swing lows, employing a strict stop-loss above the recent swing high.

Important Disclaimer: This analysis serves as a technical perspective and should not be treated as direct financial advice. Conduct your own thorough due diligence and implement sound risk management strategies before executing any trades.

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