SHIBUSDT Bullish Cypher in the making or downright "rug pull"?
With China banning some, if not all crypto transactions, the currencies have taken a huge hit and SHIBUSDT was not spared. Numerous patterns were tried and tested, be it bullish or the bearish type but only one could make it in the harmonic pattern, particularly Bullish Cypher due to the others' nature to make the currency negative (-) in value in the future.
Hence, should this current candle hold in the 4h TF then it will be forming a "Morningstar" pattern, a three-candle bullish pattern. Hopefully, this holds as DXY should already consolidate, especially based on the stochastics of the 1M TF.
Should you go long or short? As for now, I will definitely holdout on trading this currency unless we have good volume confirmation + the end of this candle since another possible dump can occur but if your choice is to just exit then yes, you have a lot of assurances it will go back to the 0.40+ levels.
Hence, should this current candle hold in the 4h TF then it will be forming a "Morningstar" pattern, a three-candle bullish pattern. Hopefully, this holds as DXY should already consolidate, especially based on the stochastics of the 1M TF.
Should you go long or short? As for now, I will definitely holdout on trading this currency unless we have good volume confirmation + the end of this candle since another possible dump can occur but if your choice is to just exit then yes, you have a lot of assurances it will go back to the 0.40+ levels.
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