Current Situation: $SHIB /USDT is trading at 0.00002425, down 0.94% in the last 24 hours. The price is currently consolidating within a descending triangle pattern, indicating potential bearish momentum.
Short-term Trade Setup:
* Short Entry: 0.00002450 (resistance level)
* Target: 0.00002300 (support level)
* Stop Loss: 0.00002500 (above the resistance level)
Long-term Trade Setup:
* Long Entry: 0.00002280 (support level)
* Target: 0.00002550 (above the resistance level)
* Stop Loss: 0.00002200 (below the support level)
Market Outlook:
The descending triangle pattern suggests a bearish bias in the short term. However, a break above the resistance level could invalidate the bearish scenario and lead to a bullish move.
Leverage:
Use appropriate leverage based on your risk tolerance and market conditions. Remember, higher leverage amplifies both potential profits and losses.