Shiba Inu : Dumb money is here...I really don't like this coin fundamentally but dumb money is here so let's learn from it.
We could recognise a pennant pattern right here which is crazy cause :
" - In 75% of cases, a pennant’s exit is in the same direction as the movement preceding its formation.
- In 90% of cases, a pennant is a continuation pattern. "
That would mean that if we get out by the upside as a continuation we could have a 106% move to the upside.
However, We although have a bearish divergence that hasn't played out on the RSI and the MACD is giving us a bearish cross so I would be really cautious.
A breakout on volume of this pennant would give me a clear way on where to go.
Break on the upside and I would go :
TP1: 0.000005297
TP2: 0.000006645
SL: 0.000002736
Break on the downside and I would wait to see Price action in zone 0.000001349-0.000001614 which could be a nice zone to recharge.