🔥 SHIBA High Risk / Reward Reversal: Oversold Bounce

SHIBA is trading inside a sideways wedge pattern. This pattern has been playing out for nearly a year now, so the expectation is that the support will cause some kind of bounce.

A less risky approach would be to take profits around 1000 instead of 1300.

To add to this analysis, the 3-day RSI is approaching oversold levels very rapidly. An oversold 3-day RSI can often cause a major long-term bottom to be set.

Kommentar:

Entry hit👀

Kommentar:

Bounce is playing out as expected 🚀

Kommentar:

Came close to SL, but signal still in play