🐕🔥 Shiba Inu Bulls Awaken — Breakout Sparks Hunt for Next Price Targets!
The structure developed across three troughs: a left shoulder that bottomed just around $0.00001082 in mid-March, a head that wicked to $0.00001030 in early April, and a right shoulder that supported $0.00001230 in early May.
After that breakthrough, SHIB reached $0.00001765, its highest level since early February, when profit-taking caused a “throwback.” The token has slipped back into the neckline zone, where bid demand has absorbed supply, confirming it as a new support zone between $0.00001400 and $0.00001470. Many technicians demand a successful retest before declaring the pattern complete.
Vertical depth of the formation is around $0.0000037 from the head's extreme to the neckline's middle. For the breakout area, that distance verifies the local top at $0.00001765.
SHIB daily – inverted H&S brokeback pattern finished, said Cantonese Cat. Encourages bullishness.” As the neckline serves as a springboard, price action over the following few sessions will decide if bulls can capitalize on the technical success or whether bears can pull the token back into the trading range.
SHIB Price Targets
Fibonacci retracement levels provide upward targets. Anchoring the grid to last summer's $0.00004569 high and the March swing low at $0.00001030 creates a 23.6 percent retracement at $0.00001865, the second technical waypoint after the 200-day EMA at $0.00001603.
If buyers recapture both lines on a closing basis, the roadmap indicates to $0.00002382 (38.2%) and the midpoint at $0.00002799, the lower margin of last December's congestion zone. Finally, the golden-ratio level at $0.00003217 and the 78.6% retracement at $0.00003811 stand in the way of a macro peak challenge.
Failure to defend the neckline shelf around $0.00001430 would invalidate the bullish script and transfer short-term risk back to the 50-day EMA at $0.00001399 and the cycle floor at $0.00001030.
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