Explosive Head and Shoulder Pattern Forming On SHIB/USDT

10 thg 8, 2023

💎Paradisers, turn your attention to SHIB/USDT. The 1-hour chart shows a head and shoulder pattern forming. After achieving higher highs, the price began to carve out lower lows, laying the foundation for this pattern. If it drops below the neckline and the important demand area at 0.00000931, it would validate the lower low trajectory. We might then see a move down to the next demand area near the 200 EMA at 0.00000907.

💎 If the price breaks above 0.00000975 the right shoulder, It could invalidate this pattern.

💎This 200 EMA could act as a gravitational pull, might attract the bears. Stay alert and plan your strategies carefully, ParadiseSquad!