Shiba Inu Price Forms Cup And Handle Pattern, What Does This Mean?

[Google News Bot]

Shiba Inu Price had registered substantial gain over the last week. In the last 24 hours however, the coin moved down on its chart. The meme-coin had broken past its cup and handle pattern that was being formed for the past several months. This had pointed towards signs of bullishness. Despite a fall in Shiba Inu price, the technical outlook of the coin continued to remain positive at the time of writing. If Shiba Inu manages to remain above the $0.000015 level then the meme-coin could trade nea ...

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[Immilash1]

I'm not good at using chart patterns when it comes to analysing the chart, but I think the cup pattern represent trend reversal, I think that's what it is, am I right?