Shiba Inu Shows Strength Vs. Dogecoin But Prints A Bearish Pattern: Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Shiba Inu (CRYPTO: SHIB) traded slightly higher on Tuesday, showing strength compared to Dogecoin (CRYPTO: DOGE), which traded lower with the wider crypto sector. However, SHIB appears to be settling into a bear flag pattern on the daily chart, suggesting a potential downward move.
June 13, 2023 | 5:25 pm
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NEGATIVE IMPACT
Dogecoin traded lower in tandem with the wider crypto sector, potentially impacting its short-term price.
The article mentions that Dogecoin is trading lower in tandem with the wider crypto sector, which could have a negative impact on its short-term price. However, the focus of the article is on Shiba Inu's bearish pattern, so the relevance and importance are moderate.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Shiba Inu traded slightly higher but is settling into a bear flag pattern, suggesting a potential downward move in the short term.
The article focuses on Shiba Inu's bear flag pattern, which suggests a potential downward move in the short term. The pattern is formed between June 10 and Tuesday, and if it breaks down on higher-than-average volume, the crypto could fall about 18%. This makes the relevance and importance high, and the confidence moderately high.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100