Bitcoin, Dogecoin and Shiba Inu – European Wrap 13 June


Bitcoin price has crashed quite a bit over the weekend, taking Ethereum, Ripple and other altcoins with it. The cause of this brutal market downswing seems to be two-fold – fears around the solvency of the Celsius Network and the CPI announcement.

 

BTC/USD 1-day chart

Dogecoin price shows that the crash is likely to continue until a stable support level is reached. Investors need to be cautious for the next few days, at least until sellers and the bearish momentum dissipate. 

 

DOGE/USDT 4-hour chart

Shiba Inu (SHIB) price is under pressure as the token racks up its seventh day of losses – assuming SHIB price does not close above $0.00000859 this evening. To make matters worse, a daily close below a key technical line could bring even more downside risk by increasing the power of bear’s hold over price action. Expect this Monday to be crucial for SHIB price action for the rest of the week, with both a 30% drop and a 20% pop potentially on the cards.

 

SHIB/USD daily chart

 

 

 

 



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