TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Elliott Wave analysis: Shiba Inu lost 40% after completing 5th wave

Elliott Wave analysis: Shiba Inu lost 40% after completing 5th wave
Gregor HorvatGregor HorvatWavetraders

Cryptos have seen a nice bounce this wee which has been technically expected as drop through September unfolded as a correction. We see some nice intraday bullish structure, but even strong intraday trends may face some pullbacks, so do not be surprised if the market slows down.

The reason for a recent rally on cryptos can be coming from the SEC who approved Volt Equity ETF providing exposure to Bitcoin-centric companies, and also JPMorgan comments who said that investors renewed interest in the usage of bitcoin as an inflation hedge. However, cryptos are volatile and they will always come down at some point.

SHIBA Inu per example lost 40% after we recognized the market in a fifth wave. So nothing moves in a straight line.

Shiba Inu 4h Elliott Wave analysis

Shiba Inu Elliott wave Analysis

Check more of our analysis for currencies and cryptos in members-only area. Visit EW-Forecast for details!

Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

More from Gregor Horvat
Share:

Editor's Picks

Pi Network extends consolidation as bulls eye $0.10

Pi Network extends consolidation as bulls eye $0.10

Pi Network price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases.

Bitcoin Weekly Forecast: Hormuz uncertainty clouds BTC outlook

Bitcoin Weekly Forecast: Hormuz uncertainty clouds BTC outlook

Bitcoin trades around $62,900 on Friday, down over 3% so far this week, but signs of stabilization are emerging. Tensions in the Strait of Hormuz are keeping Oil prices and the war-risk premium elevated, supporting the US Dollar and weighing on BTC.

Crypto Today: Bitcoin, Ethereum, and Ripple risk steeper correction as bearish pressure mounts

Crypto Today: Bitcoin, Ethereum, and Ripple risk steeper correction as bearish pressure mounts

Bitcoin trades below $63,000 on Friday, projecting a downside bias as selling pressure resurfaces. Ethereum and Ripple also take a bearish path, risking a drop below the 50-day Exponential Moving Average at $1,856 and the $1.00 psychological support, respectively.

Bitcoin SV Price Forecast: BSV hits three-month high, eyeing 200-day EMA breakout

Bitcoin SV Price Forecast: BSV hits three-month high, eyeing 200-day EMA breakout

Bitcoin SV (BSV) is up nearly 2% on Friday, extending a steady upward trend over the last two weeks. Retail strength builds in BSV amid multiple vulnerabilities found in the Bitcoin ecosystem.

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin: Hormuz uncertainty clouds BTC outlook

Bitcoin (BTC) trades around $62,900 at the time of writing on Friday, down over 3% so far this week amid cautious institutional demand and persistent geopolitical uncertainty. While BTC shows signs of stabilization, elevated Oil prices and tensions in the Strait of Hormuz continue to weigh on risk sentiment, keeping the Crypto King’s near-term outlook under pressure.