SHIB/USDT – 30M – SELL

The combination Shiba Inu/Tether (SHIB/USDT) moves from the ascending trendline downwards

A bearish trend down to the next support line at 0.000024460 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 0.000025660 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Target of the current trend is 2.545052E-5 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 0.000025660 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

Download SHIB/USDT Signal Image

Trading Signals: CRYPTO – SHIB – SHIB/USDT – USDT – Bearish Engulfing