Through the technical analysis of Shiba Inu coin, we can suggest the following trading position:
Buy at: 2800 - 3550
Take Profit 1: 5700
Take Profit 2: 7300
Take Profit 3: 8900
Stop loss: 2050
Technical analysis explained:
Shiba Inu coin has been dropping since the 28th of October.
The tops and bottoms of a bearish wave form a pattern called a falling wedge.
- It is known that after this pattern ends there is a strong and sudden rise in the price.
- Through the support levels, we find strong support at 3550.
- But through the Fibonacci levels, we find that the bearish wave will continue until the price drops to 2800.
- So we can say that the 2800-3550 is a support area.
- The head of the falling wedge meets at the same price as the 2800 Fibonacci level, so it is the most likely bottom.
- Also, the three of them meet on the fifteenth of next December, so it is the most likely date for the end of the bearish wave and the beginning of the ascent.
Not a confirmation, just a technical analysis
Buy at: 2800 - 3550
Take Profit 1: 5700
Take Profit 2: 7300
Take Profit 3: 8900
Stop loss: 2050
Technical analysis explained:
Shiba Inu coin has been dropping since the 28th of October.
The tops and bottoms of a bearish wave form a pattern called a falling wedge.
- It is known that after this pattern ends there is a strong and sudden rise in the price.
- Through the support levels, we find strong support at 3550.
- But through the Fibonacci levels, we find that the bearish wave will continue until the price drops to 2800.
- So we can say that the 2800-3550 is a support area.
- The head of the falling wedge meets at the same price as the 2800 Fibonacci level, so it is the most likely bottom.
- Also, the three of them meet on the fifteenth of next December, so it is the most likely date for the end of the bearish wave and the beginning of the ascent.
Not a confirmation, just a technical analysis