Shiba Inu (SHIB) - Bullish divergence

On the above 1-day chart price action has corrected 90% since October 2021 and 75% since the sell signal. A number of reasons now exist to be long, including:

1) The ‘incredible buy’ signal.

2) Regular bullish divergence.

3) The inverse head and shoulder pattern following the 'buy' signal is almost a carbon copy of what happened back in September 2021 before the massive upside move.

Is it possible price action falls further? Sure. Sellers are falling over themselves to get in line for the guillotine.

Is it probable? No.

Ww

PS: Not trading this, ask below for updates.


Type: trade
Risk: <=6% of portfolio
Timeframe: 1 to 3 months
Return: Don’t know. However a Fibonacci re-tracement from the the past market bottom to the high suggests a 3000% move.

Trade active:

Easy money..

Trade active:

80% move to the upside is about to occur.