Shiba Inu Drops But What Happens Next? What About Bitcoin?

4 nov 2021

Shiba Inu (SHIBUSDT) just had a strong bearish candle today after yesterday's close below EMA10.

What will happen next?

Looking at our indicators and going back to past history, there can be more.

As SHIBUSDT is now trading below EMA10, the indicators have turned bearish and there is room for EMA50 (0.00003466) to also be tested as support.

• We have a volume breakout on the bearish side.
  
• A bearish cross on the MACD.
  
• The RSI is still strong.
  

We can see some small bounces followed by additional red.

Patience is key...
You were warned days before this happened.
(Check "related ideas" below)

What about Bitcoin?

Bitcoin is likely to follow and also print its pending correction, we will look at BTCUSD next.

Namaste.