Shiba Inu: Road Ahead with Elliott Wave Analysis

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 ShibaInu/INR hourly chart



As shown in the above chart, prices are moving down by breaking its previous lows which is a negative sign. By moving in a lower highs and lower lows, prices define negative trend. Currently it is moving in a sideways direction in which it has given a negative breakout.

From Waves perspective, prices are moving in a corrective pattern (a-b-c) where wave a and wave b in running irregular flat is completed, wave c is in making where it has completed wave i to wave iv and wave v is pending. Wave iv is in triangle which got completed today, this opens wave v lower which can test 0.000755 INR
 
The summation is SHIBAINU is all set to plunge towards 0.000755 over short to medium term.


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