SHIBUSDT is likely to continue it's streak for Higher Highs and Higher Lows. On an hourly timeframe, SHIBUSDT printed an inverted Bullish Hammer which suggests that the Bulls will be dominant.
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Bullish Turnaround Rally: SHIB prepares for a bullish reversal, targeting a breakout above $0.000040.
Rounding Bottom Reversal: Indicating a potential for significant price increase.
Fibonacci Level Breakout: Aiming for an uptrend beyond $0.00004116 towards $0.00005833.
Bitcoin Price Influence: Revival interest in meme coins, including SHIB, amid Bitcoin's market pump.
Conservative Uptrend Speed: Noticing a cautious yet steady bullish movement.
Bullish Pattern Breakout: Small timeframe analysis shows increasing chances for a bull run.
Support at $0.000024: Acting as a launchpad for the current rally.
Daily Chart Momentum: Four consecutive bullish candles highlight the ongoing positive momentum.
Current Trading Status: SHIB trading at $0.00003096, with noticeable intraday growth.
Technical Indicators Support: MACD and RSI in the 4H timeframe support the bullish outlook.
Overhead Resistance: Watching the $0.00003802 zone for potential supply challenges.
Fibonacci Level Targets: Bullish trend aiming for $0.00005833 based on Fibonacci analysis.
Contrary to the bearish scenario (short term) this is the bullish scenario suggesting that we might be seeing a slightly push in price to form a new high ending as a ABC #Zigzag for wave 5
PREVIOUS ANALYSIS
Shiba Inu broke the resistance trendline, and a bullish continuation is expected! If you're looking to trade SHIB at the moment, here's a quick setup that you might find helpful!
The idea is: Buy when the price breaks above 0.0000307$ and take profits at the levels shown in the chart.
Targets:
1. 0.0000315$
2. 0.0000325$
3. 0.0000335$
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About our trades:
Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!). Our TradingView page serves as a testament to this claim, and we invite you to verify it!
