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it looks like it's forming head and shoulders will it dump to 54k? comment what you guys think
Hammer candle stick pattern :
The Hammer candlestick pattern is a bullish reversal pattern that signifies a potential turnaround in price. It typically forms at the end of a downtrend and signals the possibility of a bullish movement starting. It's called a "Hammer" due to its shape, which resembles a hammer with a long handle and a small head.
👀 What The Pattern Looks Like
The Hammer pattern is formed of a single candlestick, which has the following characteristics:
Small Real Body: The body of the candle, which is the difference between the opening and closing prices, should be small. This body can be either red (bearish) or green (bullish).
Long Lower Shadow: The most defining feature of a Hammer is its long lower shadow (wick). This shadow should be at least twice the length of the real body.
Little to No Upper Shadow: Ideally, a Hammer should have little to no upper shadow. If there's a small upper shadow, it can still be considered a Hammer, but the absence of an upper shadow is more ideal.
Position within a Trend: For the pattern to be considered a Hammer, it must form after a downtrend. If the same shape appears after an uptrend, it is called a "Hanging Man" and can be bearish.
🧠 Pattern Psychology
To fully understand the Hammer candlestick pattern, we need to delve into the market psychology behind it:
Previous Downtrend: Before the Hammer appears, there's a prevailing downtrend. This means that the bears have been in control, and the sentiment is pessimistic.
Intra-day Decline and Recovery: On the day the Hammer is formed, prices generally open and continue to move down, suggesting that bears are still trying to push the prices lower. However, at some point during the day, a change in sentiment occurs. Buyers step in, pushing the price back up, often closing near or slightly below the opening price.
Bulls Take Control: The long lower shadow represents the distance between the lowest traded prices of that day and the closing price, showing a rejection of the lower prices. #write2earn
The Hammer candlestick pattern is a bullish reversal pattern that signifies a potential turnaround in price. It typically forms at the end of a downtrend and signals the possibility of a bullish movement starting. It's called a "Hammer" due to its shape, which resembles a hammer with a long handle and a small head.
👀 What The Pattern Looks Like
The Hammer pattern is formed of a single candlestick, which has the following characteristics:
Small Real Body: The body of the candle, which is the difference between the opening and closing prices, should be small. This body can be either red (bearish) or green (bullish).
Long Lower Shadow: The most defining feature of a Hammer is its long lower shadow (wick). This shadow should be at least twice the length of the real body.
Little to No Upper Shadow: Ideally, a Hammer should have little to no upper shadow. If there's a small upper shadow, it can still be considered a Hammer, but the absence of an upper shadow is more ideal.
Position within a Trend: For the pattern to be considered a Hammer, it must form after a downtrend. If the same shape appears after an uptrend, it is called a "Hanging Man" and can be bearish.
🧠 Pattern Psychology
To fully understand the Hammer candlestick pattern, we need to delve into the market psychology behind it:
Previous Downtrend: Before the Hammer appears, there's a prevailing downtrend. This means that the bears have been in control, and the sentiment is pessimistic.
Intra-day Decline and Recovery: On the day the Hammer is formed, prices generally open and continue to move down, suggesting that bears are still trying to push the prices lower. However, at some point during the day, a change in sentiment occurs. Buyers step in, pushing the price back up, often closing near or slightly below the opening price.
Bulls Take Control: The long lower shadow represents the distance between the lowest traded prices of that day and the closing price, showing a rejection of the lower prices. #write2earn
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Sorry to say but SHIBA INU will never reach $1. For this to happen it needs at least $300T market cap which will never happen. You should sell your SHIBA inu coins and try investing in some other crypto. Don't hate me for that was just sharing my opinion comment down what is your opinion about $SHIB #TrendingTopic #Learn2Write #SHIBA✅🚀
Can SHIBA INU make a comeback? what do you think comment down and follow. send red packets to get more.
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$SHIB
guys this is the reason #SHIB is going down 👇
$SHIB PEOPLE small to big traders listen very carefully and realy listen very carefully
after exploring the blockchain we discovered that a whale an anonymous whale is implementing the wyoming curve..if you don't know what is a wyoming curve I advise to read about it..the price of shiba is being manipulated by a big whale stealthy the price will go down for a short while than it will dramatically increase and there is a + 60% chance shib will lose a zero in 3 days
the whale started by buying small quantities of shib regularly
once this whale stabilized the price.he slowly started to buy SHIB in larger quantities. This will slowly pushed up the price in a very stealthy way. most traders who don’t have any idea of what’s happening jumped on the bandwagon. contributing to the whale’s grand scheme.
once this whale exhausted his capital of 1.8 million bucks.( sim of deferagged transactione) The price of shiba went considerably high today. This whale reversed its original strategy. now it was the time where it makes big bucks. he started to place sell orders for small quantities. this did not push the price down but it also did not let it go up either. After he got the price on the downtrend lime what happened today when shiba reversed . the whale started placing bigger quantities of shiba. he is so skilled he even shorted SHIBA on a downtrend. The price plummeted after the whale exhausts his entire supply of shiba
The whale reversed his technique the price of shiba will go up now because the devil decided to
so my advise for you all don't he greedy and put all your money even though the upcoming new price will make millions
❤️ If you found this helpful, please consider tipping me through the Binance Tipping feature. Your generosity will help me continue to provide high-quality content. 🙏🏿#TrendingTopic
after exploring the blockchain we discovered that a whale an anonymous whale is implementing the wyoming curve..if you don't know what is a wyoming curve I advise to read about it..the price of shiba is being manipulated by a big whale stealthy the price will go down for a short while than it will dramatically increase and there is a + 60% chance shib will lose a zero in 3 days
the whale started by buying small quantities of shib regularly
once this whale stabilized the price.he slowly started to buy SHIB in larger quantities. This will slowly pushed up the price in a very stealthy way. most traders who don’t have any idea of what’s happening jumped on the bandwagon. contributing to the whale’s grand scheme.
once this whale exhausted his capital of 1.8 million bucks.( sim of deferagged transactione) The price of shiba went considerably high today. This whale reversed its original strategy. now it was the time where it makes big bucks. he started to place sell orders for small quantities. this did not push the price down but it also did not let it go up either. After he got the price on the downtrend lime what happened today when shiba reversed . the whale started placing bigger quantities of shiba. he is so skilled he even shorted SHIBA on a downtrend. The price plummeted after the whale exhausts his entire supply of shiba
The whale reversed his technique the price of shiba will go up now because the devil decided to
so my advise for you all don't he greedy and put all your money even though the upcoming new price will make millions
❤️ If you found this helpful, please consider tipping me through the Binance Tipping feature. Your generosity will help me continue to provide high-quality content. 🙏🏿#TrendingTopic
$SHIB is growing faster than expected. Yesterday I uploaded a post saying that it'll reach 0.00004000 on march 6 but, now it's gonna happen on march 5 and it might eliminate one more zero in the next 4 days. #TrendingTopic #SHIB #Learn2Write
#TrendingTopic My prediction for Shiba Inu is that it will touch 0.00004000 on 6/3/24. what is your opinion ? comment down.$SHIB #Learn2Write #SHIBA✅🚀
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