SHIBA INU, MASSIVE Inverse H-S-Formation, POTENTIALS!

Hello,

Welcome to this analysis about Shiba Inu and the 12-hour timeframe perspectives. Since the volatility in the Cryptocurrency Space in recent times moved on to increase certain cryptocurrencies have formed important developments in technical price action. In this circumstance, it is necessary to look at the diverging cryptocurrencies as the setups highly differ, in this case, there are coins showing more bullish potentials while there are others with more neutral or bearish potentials. Therefore, with Shiba Inu I detected a major Cryptocurrency that currently forms a massive formation that can show up with huge potentials when the appropriate price actions are set in. Therefore as when looking at my chart, we can watch there that Shiba Inu has begun to emerge with this inverse head shoulder formation with the left shoulder and the head already completed, especially in the development of the head Shiba Inu has shown up with highly increased volatilities. Now Shiba Inu moved on to breakout above the 35-EMA which is now a pivotal support and above these supports Shiba Inu is developing this descending channel formation with the main support as marked in my chart and the coherent wave count pointing to this support with the completion of wave C. In this case it is highly necessary that Shiba Inu appropriately holds the support seen in my chart and do not falls below it because this will invalidate the formation. If Shiba Inu manages to bounce rightly in the support this will be the source of the completion of the descending channel and from there on if Shiba Inu manages to hold on this pace the next completion will be a breakout above the neckline which will finalize the whole inverse head-shoulder-formation and activate main upper target zones as shown in my chart. For now it will be important how Shiba Inu manages to complete this formation and how it moves on from there, it will be an interesting destiny ahead.

In this manner, thank you for watching the analysis, all the best!
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Information provided is only educational and should not be used to take action in the markets.