SHIB/USDT – 4H – SELL

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

A continuation of the downtrend downwards to the next support level at 0.000011850 is likely expected.

Caution: A possible change in the direction of the resistance level at 0.000014060 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘RSI fall below 70’ indicator layout is detected. The indicator shows ‘RSI fall below 70’. this is usually a bearish chart signal. The currency pair could go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.222864E-5 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support line at 0.000014060 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candlestick pattern is detected. The candles show ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to fall. 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).

0.000014060 – 0.000014380 – 0.000015970 – 0.000011850 – 0.000012970 – 0.000012750 — 54.719541260305 – 50.647972451121

Trading Signals: CRYPTO – SHIB – SHIB/USDT – USDT – Three Outside Down – Rising Wedge Chart Pattern – –