Shib

Here’s my overall weekly shib chart

Since testing the 960 low, shib had a decent rally back to what I’m now looking at as a key downtrendinf roetsance around 1400ish


Before shibs sweet rally from the 800 lows, we found key support on the lower support line of what I’m drawing as a large considlation pattern potential.

We have now came back in after sideways considlation since testing downtrendinf line of reistance

We are testing rhe 960 level again which can setup as a double bottom Howver if Btc does decide to reject 30k-30,500 again and it’ll back towards 24k as I am expecting to potentially occur, shib could retest the lower end overall support


This wouldn’t be to bad of a look in my veiw, Becuase in order to confirm a larger pattern we need 3 touches minimum on each side.

So far shib has given me 2 reistances touches and 2 support touches. If we can pull back in for 1 more test of the lower end this would be around
830-840

If we just hold 960 support then we could just be in the middle of the range or making a differnt setup.

It’s been touch since it’s just been sideways for weeks. I would proably still take a buy at the 960 support and just hold it out and be ready for a potential test that’s not gaurenteed down towards 840.

If shib double bottoms here then 1400 would be the upper reostanxe. A breakout of the pattern targets
2100 however if this pattern is correct then we wouldn’t be looking for a breakout until closer to October or December.

Shib really needs to flip 1200 back into support to start showing more bullish outlook