SHIB has officially broken the descending triangle and is now in a tiny consolidation. If the price breaks above the resistance level of the consolidation area, we could see a potential retest of the ATH. If the price managed to drop through the support level...well you know what that means. Either way, I don't care what the price does, cause you can short it or go long with it.
Commentaire:
Also, notice that the volume is decreasing. This can be a signal for an explosive move.
Commentaire:
Oh and I forgot, as you can see on the RSI, I've highlighted 2 key points. Those swing highs are the 2 swing highs that retested the resistance level of the consolidation. The first swing high had an RSI of 64 and the second one had an RSI of 58, which means that the RSI is unable to create higher highs. Which MEANS that the resistance level is strong.