SHIB - History Doesn't Repeat But... Correct title should be "History Doesn't Repeat But It Often Rhymes" but according to TV thats not English. Anyhow firstly SHIB - one of my alt picks for the next bull rally had an explosive 50% move in a day last week and looks set to rocket upwards when BTC resolves a potential accumulation phase. It shouldn't be too difficult to work out why I picked SHIB. It had a ridiculously explosive bull run while BTC made a slightly higher high ATH (overlaid) last year and its still less than a year old, so good chance its got plenty of [email protected] in the tank. An interesting aspect of charts is that they take on their own particular character and SHIB is a very mathematical one with tops hitting significant fibs. And it may not exactly repeat but we can make note of previous ratios and plot them for future reference as I've begun to do here. So... In the previous bull rally SHIB first spiked 117% before collapsing all the way down to 0.886 ratio. From there SHIB went on a humungous rally up 500% in a week. The top can be found by taking the high and low 2 pivot reverse fibonacci extension and it just exceeded the 2.272 ratio. It then consolidated then pamped another insane rally up to the ATH 1341% so thats another 840% to just exceed the 3.618 ratio. But also in exactly the same way as the previous extension - taking the top of the previous wave and consolidation low reverse extension finds the ATH just exceeds the 2.272 yet again. So this 3.618 is effectively 2 stacked 2.272's. And that is wild. So we can make a note that SHIB likes the 2.272 and as things progress I will be looking for that ratio to probably take some profit depending on where BTC is. Now the next question is what type of wave is SHIB going to print. Will it be a retracement or a full on bull rally? And the fairly obvious answer to this currently is that I dont know, however as things develop then this may become more apparent. The coloured band is what I call an SRZ - Shakeout Reversal Zone. This is where in a retracement typically the market movers will push passed the 0.618 towards the 0.786 to print a SRP Shakeout Reversal Pattern - in effect to fool traders into thinking it is a bull not a retracement but a rally, before sharply pulling price back below the 0.618 and trapping longs. So this band is from 0.618 - 0.786 and in crypto it does tend to be towards the 0.786 at the upper band line. If it gets much above this to perhaps 0.85 then it will probably be an ATH about to print and potentially a much longer rally. If it did get to 0.71 then that would be a similar 500% rally and may be a good opportunity to sell if fibs match. However if SHIB does go on a bull rally and does print another 2.272 then it would be a 31000% move! And so it may be worth leaving some % in trade and letting in run. And we may see another pull back from SHIB and it could be steep, its very hard to tell of course, but currently it is testing the 50MA and we'll see if it can consolidate. Not advice.Comment: Don't forget to LIKE / Comment if you're enjoying this content 😄.