Downtrend break
Shiba Inu/Tether OKX:SHIBUSDT
With the defeat of this downward trend, we can return to our upward trend! This move is probably a pullback to broken resistance.
Sunday, August 13, 2023
August 13, 2023 at 07:03AM 🔥 SHIBA Bearish Channel: Bear Market Bet!
🔥 SHIBA Bearish Channel: Bear Market Bet!
SHIB / TetherUS BINANCE:SHIBUSDT
SHIBA has a very decent over the last month or so. It's likely that we get some kind of reversal in the near future. I'm going to increase our bearish chances by waiting patiently for SHIBA to reach the top resistance of the channel.
Yes, this trade playing out would require a continuation of the bear market for the next few months. This could also be considered as a hedging trade.
Stop just above 1400, target at 500, results in a very decent R/R of 7.92
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