Shiba Inu Update: Including 5X Short
2024-10-31

Here we have a trading range. Our main target is 0.00001245, as part of this range, but prices can go lower on a strong drop.

There was a peak in mid-July.
There is another peak in September.

The September peak is being used as the top of the trading range. Challenging this level led to the first drop. After this drop we have a small bounce and currently lower high.

Interesting part and supporting bearish signal, the peak 29-October, the lower high vs September, trades lower than the mid-July peak. This strengthen the bearish case and further supports this pair moving lower.

If SHIBUSDT moves and closes above 0.00002017, the bulls become stronger. If it crosses 0.00002173, it moves out of our trading range. While the bearish bias would be valid long-term, short-term it becomes nullify. As the chart is looking now, the bearish potential remains strong and intact.

There is also really low volume recently. Based on this information, I am still bearish and expect lower prices.

It might be the last chance to enter the Short before Shiba Inu (SHIBUSDT) moves ahead. The price is within entry level, the lowest entry; but remember, market conditions can always change.

✴️  Shiba Inu Trading Range, Medium-Risk 5X SHORT—172% Potential 


This is not financial advice.

Thank you for reading.

Namaste.