You don't need the 18650 shield, the TTGO is designed to run directly from a single lithium ion cell using the connector on the bottom side of the PCB. Using this connector also means the cell gets charged (via a proper charger circuit) when you plug in a USB charger.
That said you should be able to power the TTGO direct from the 5v pin, though stepping the cell up to 5v using that shield will reduce battery life.