SHIB/USDT – 1H – SELL

The currency pair Shiba Inu/Tether (SHIB/USDT) moves from the descending trendline down.

A continuation of the downtrend downwards to the next support at 0.000012710 will persist.

Caution: A possible counter-trend in the direction of resistance at 0.000013320 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.276E-5 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 0.000013320 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

0.000013320 – 0.000013500 – 0.000012530 – 0.000012710 – 0.000013100 – 0.000012020 — 51.251783422394 – 47.663051746606

Trading Signals: CRYPTO – SHIB – SHIB/USDT – USDT – Three Outside Down – Double bottom retreat down – –