🔥 SHIBA Has More Upside: Dead Cat Bounce?
SHIBA has performing very well today. The current move has been inspired by relative bullishness of BTC and the stock markets.
Assuming that BTC will see a period of relative calm ahead, we can expect more and more alts to perform well over the next couple of weeks. Crypto has been severely oversold with many alts trading at a >90% loss from their all-time highs, so a relief rally is to be expected sooner or later.
I'm aiming for the top resistance, which connects the ATH with the start of the capitulation in April. If we get there, we can safely say that SHIBA has seen a great relief rally. Be aware that the most likely scenario would be for SHIBA to reverse from the resistance and fall back, since we're still in a overly bearish environment.
Assuming that BTC will see a period of relative calm ahead, we can expect more and more alts to perform well over the next couple of weeks. Crypto has been severely oversold with many alts trading at a >90% loss from their all-time highs, so a relief rally is to be expected sooner or later.
I'm aiming for the top resistance, which connects the ATH with the start of the capitulation in April. If we get there, we can safely say that SHIBA has seen a great relief rally. Be aware that the most likely scenario would be for SHIBA to reverse from the resistance and fall back, since we're still in a overly bearish environment.
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