It looks as though Shiba Inu has began its bullish sequence after completing the correction of the impulse that began from the 7 Sept 2021 low. That impulse was a 5 wave move to the upside topping on 28 Oct 2021 (All time High at 0.00008847). This impulse was then preceded by a downward channel unfolding in a 7 swing sequence bottoming recently as of 12 May 2022, making 0.00000910 as the end of wave 2 in the larger yellow (intermediate) degree, just a few points shy on the bottom trendline channel. The end of wave 2 means that we have now began wave 3 in yellow which I expect to unfold in 9,13,17(waves) etc..., depending on how many smaller impulsive subwaves are formed going up, already the impulse from 0.00000910 to 0.00001466 means we have began the uptrend with a subwave, (purple subminuatte degree).
Alternate View!
If however price fails to break strongly to the upside the next level of significance is 0.000018 - 0.00003... price should fail within that small bluebox, and head lower to break the May 12, 2022 low after which we then should expect it to go higher because it would have completely exhausted the possible corrective sequence to the downside.
So our possibilities to the downside are now very much limited with only a possibility of one more move down if price fails to push higher within the small bluebox in it path.
Alternate View!
If however price fails to break strongly to the upside the next level of significance is 0.000018 - 0.00003... price should fail within that small bluebox, and head lower to break the May 12, 2022 low after which we then should expect it to go higher because it would have completely exhausted the possible corrective sequence to the downside.
So our possibilities to the downside are now very much limited with only a possibility of one more move down if price fails to push higher within the small bluebox in it path.
Comment:
Note, small bluebox area is between 0.00001704 and 0.0000210.
