SHIBUSDT: Is a Bullish Reversal on the Horizon?Yello, Paradisers! Have you been tracking SHIBUSDT? The recent price action has formed a descending channel, which could be setting the stage for a bullish move. But how can we know if it's time to jump in? 🤔
💎If SHIBUSDT shows a Change of Character (CHoCH) from the support zone, shifting towards a bullish market structure, it could signal a strong bullish move.
💎If the price starts to rise from the current levels, it could also form a W pattern. A breakout and a candle close above the resistance zone would confirm both the W pattern and the descending channel, boosting our bullish bias.
💎However, if the price falls, breaks down, and closes below the support zone, this would invalidate the bullish scenario, signaling that further downside might be ahead.
Stay alert, Paradisers! The next move could make all the difference. 🧐
MyCryptoParadise
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