Bitcoin Breakout Euphoria Thrashed by Legendary Trader Peter Brandt

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Bears are back as most of the coins are in the red zone, according to CoinStats.

SHIB/USD

The rate of SHIB has fallen by 3.48% over the last 24 hours.

On the hourly chart, the price of SHIB is approaching the local support of $0.00001184. If it breaks out, the correction is likely to continue to the $0.00001170 mark.

On the bigger time frame, there are no reversal signals yet. If the daily bar closes near its low, traders may witness an ongoing downward move to the $0.00001150 zone.

From the midterm point of view, neither bulls nor bears are dominating. 

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If the candle closes around current prices, sideways trading in the range of $0.00001150-$0.00001250 is the most likely scenario.

SHIB is trading at $0.00001194 at press time.