$SHIB /USDT Technical Analysis
Current Situation:
$SHIB is currently trading at $0.00002609, up 3.16% in the last 24 hours. The price has been forming a bullish flag pattern, which is a continuation pattern that suggests a potential upside breakout.
Short-term Outlook:
The bullish flag pattern indicates a potential continuation of the uptrend. A break above the flag pole resistance level could signal a further price increase.
Trade Recommendations:
* Long Trade: Enter a long position at the current price ($0.00002609) with a stop-loss at the flag pole support level ($0.00002332) and a take-profit at the previous high ($0.00002636).
* Short Trade: Avoid short positions for now due to the bullish flag pattern.
Leverage:
Use leverage cautiously. A 2x to 3x leverage can amplify profits but also increase risks.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.