SHIBA INU, 2Nd Historical TRIANGLE Emerges, CYCLE-CONTINUATION!

17 sty 2022

Hello,

Welcome to this analysis about Shiba Inu on the 2-day timeframe perspectives. The cryptocurrency market is not what it was back in 2017 where everything moved in one direction and all cryptos showed up with heavy upside volatility expansions. These times there is an increased divergence between certain cryptocurrencies and this is why there are coins that show solid bullish potential setups while there are others that are showing increased bearish probabilities. These divergences are highly important to consider within the market and it is the best practice to pick these coins that show up with the most potentials, in this case, I spotted a major formation forming with Shiba Inu and its ongoing cycle and therefore I discovered all the important levels, structural developments and upcoming determinations we need to consider with Shiba Inu.

Shiba Inu Historical Triangle And Wave-Count:
As when looking at my chart now we can watch there how Shiba Inu is within this paramount massive ascending cycle channel in which it initiated the main wave count and already completed waves 1,2,3 and 4. The first wave emerged out of the first buyers moving into SHIBUSD and resulting in this massive bullish spike to the upside, the second wave moved into the first historical descending triangle formation as it is marked in my chart in blue, with this second wave Shiba Inu approached the lower boundary of the massive ascending cycle channel which is highly pivotal support in this case from where the third wave and the hype around Shiba Inu had its origins. Now within the fourth wave Shiba Inu is building a highly similar descending triangle formation as it was seen within wave 2 and within this Shiba Inu also already finalized the main wave count.

Upcoming Determinations And Objectives:
Taking all these factors into the consideration now Shiba Inu is on the verge to a massive move when this whole descending triangle formation completes as it is marked in my chart with a breakout above the upper boundary. Currently, there is a very high likelihood given that Shiba Inu shows up with it because it already heavily bounced within the lower boundary matching together with the 85-EMA in my chart. When the final confirmation emerged Shiba Inu will activate the initial descending triangle target zone marked in my chart in the first blue level. When Shiba Inu approaches this first target and manages to stay in this area to build up with a possible follow up formation this will be the continuation setup for Shiba Inu to fully expand with the 5th wave in the whole wave count finally approaching the upper boundary of the massive ascending cycle channel.

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"The high destiny of the market is to explicate, rather than to speculate."

Information provided is only educational and should not be used to take action in the markets.