Shiba Inu Climbs Toward Decision Time As Triangle Apex Approaches: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) were trading mostly sideways during Wednesday’s 24-hour trading session. Shiba Inu has formed a symmetrical triangle pattern on the 24-hour chart, indicating that the bulls and bears are equally in control. The crypto is set to meet the apex of the formation on July 29 and traders can watch for the crypto to break up or down from the triangle on higher-than-average volume to indicate future direction.
July 19, 2023 | 4:32 pm
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NEUTRAL IMPACT
Dogecoin was trading flat with an inside bar pattern. The crypto's price movement was mostly sideways during the 24-hour trading session.
The news does not provide any significant positive or negative information that could affect the price of Dogecoin. The crypto was trading flat, indicating a neutral price movement.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Shiba Inu has formed a symmetrical triangle pattern on the 24-hour chart, indicating that the bulls and bears are equally in control. The crypto is set to meet the apex of the formation on July 29, which could indicate a future price direction.
The symmetrical triangle pattern formed by Shiba Inu indicates a consolidation phase where the bulls and bears are equally in control. The break up or down from the triangle on July 29 could indicate a future price direction, making this news important for investors.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100