Lingrid | SHIBUSDT price REBOUND after DOUBLE Bottom Formation
SHIB / TetherUS BINANCE:SHIBUSDT
SHIBUSDT market has bounced off the support level following a double bottom formation. Price action essentially created a false breakout below the previous month's low before reversing higher. Recently, it completed an ABC move, which typically precedes a pullback phase. The 0.00001250 support level has demonstrated significant importance to the market, having been tested multiple times with price rebounding from this zone on numerous occasions. Since the price has successfully broken and closed above this critical level, I expect the market to retrace toward the support zone and upward trendline before continuing its upward movement, provided it maintains position above these key zone. My goal is resistance zone around 0.00001500
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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