SHIBA INU - Holds Up On Major Test! Real Breakout or Rinse & Repeat?!

Added: 2026-05-13

[00:00:01]You know, it's only been 24 hours and shib is higher. Other assets in the crypto space are higher and have gained some strength. We had some leverage liquidations. We have some good news.

[00:00:11]And then obviously the big question comes in now, will this continue? Are we going to see continuity? Will we continue to see the start of this this violent move for shiba inu and others in the space? And I do want to talk about that in this video. Go over some of the news. Frankly, for a couple of these shib charts, this couldn't have happened at a better time. So, if you're new or haven't already sure make sure you like, comment, show your support for the channel down below. But let's dive into this because again, shib is higher in terms of price. It is broken out of structure. We've talked about this ascending triangle ad nauseam for a very long time.

[00:00:43]This this is a really good sign here.

[00:00:45]This is now only the second time that shiba inu has actually closed candles above this trend. It did it once back here in the middle of April, got immediately rejected back down. And right now, this is the highest close that we had above this structure. And right now, if we were to close here today, right now, this would be the highest extension we've had. This start is starting to look more like a true breakout than a fake out. Now, obviously that can change very quickly in the crypto market. I'm not saying that this is for sure a guaranteed big extension or anything like that, right? This could be the start of shib's violent move that we've been waiting for. But again, we also we need to look at things in a very level-headed way. I know I've looked at this in every single video today, but I think that this is really important.

[00:01:30]BTC, although it is broken out right now, it sits right below that 200-day moving average. That 200-day moving average is going to be a big focal point of resistance for BTC. And that might be where you see a lot of the speculative traders, a lot of the short-term traders try to push things back down, try to take some profit, right? May maybe liquidate some long leverage along the way. That those are very real possibilities. At the same time, BTC closing in on this big CME gap that it's had since all the way back here in January. Do we in fact close this CME gap before some more BTC downside? That that is all 100% possible.

[00:02:09]Now, things that can change that, if the news that is good continues to get better better, it can carry us to the upside. It can liquidate more more shorts along the way, right? Um BTC shows no signs of of slowing down or if you get some big institutional buys, that can, you know, turn what could potentially be a midweek pivot into uh just a full week of of positivity and green and expansion, right? Those would be really good signs. And just for, you know, uh just so people are aware, this is some of the news that we're dealing with here. Um so, first of all, the the US and Iran are trying to work out a a deal right now. Um there's a 14-point proposal that's been sent to Iran. Iran said they're reviewing it right now. Um and, you know, the market is right now assuming that an end to this this war is imminent. We've seen that many times before, right? Uh we've seen this where you think you're going to get massive de-escalations and then it turns into escalations. For example, uh even Trump has come out and said as if Iran agrees, the Strait of Hormuz will reopen to all.

[00:03:11]If they don't agree, the bombing starts again at a much higher level and intensity, right? So, it could very easily very quickly flip the opposite direction. Now, we haven't seen that be the case yet, but that is still hanging out there. That could very much be the case um moving forward. In fact, even as, you know, oil cratered this morning, we've watched it start to to bounce back um as, you know, Iran has launched this new website called the the Persian Gulf Strait Authority that they plan on charging fee, you know, collecting the fees, obviously for people um you know, uh I'm losing the word. Um just, you know, traversing. There you go. Traversing the Strait of Hormuz. Um so, again, a lot of things are still currently up in the air. We also have a jobs report this Friday, which historically has caused some volatility in the market. So, this could obviously be potentially building up to that that moment where, you know, you get a bunch of profit taking at the the latter part of the week.

[00:04:09]But, you know, that that stuff is for now, the market continues to look really good. Now, it was really important that we made a rally now for Shib and and others in the space. Why I'm saying that is we we I've obviously talked about this Shib triple bottom that we were trying to hold on to that we were trying to sustain. Look at the last 2 days here, green versus BTC. So, we had watched basically BTC kind of be dominant and showing a lot of strength.

[00:04:35]All coins were hesitant. And now you started to watch capital rotate back to all coins.

[00:04:41]Very positive sign. We've also seen USDT dominance hit the lowest levels it's seen since basically the start of February, end of January. So, again, money in the market starting to get a little bit more confident. So, we're seeing that take place in terms of of Shib versus BTC. We're seeing this in terms of Shib dominance here as well, which again is you know, setting a higher low. So, these things continue to look very good for Shib Inu. Now, a couple things, holders flat, exchange supply exchange supply slightly higher. So, again, you're watching some of that speculative profit taking, not really surprising at this time, but things are looking very good right now. I hope they continue to be good for our sake, right? Cuz obviously we'd be very disappointing at this point if we did get this breakout, things look promising, and then you get news, you get the market cratering, you get a bunch of long leverage liquidations, you see Shib and others, you know, break to the downside here, test some of these lows that we haven't seen in a little bit of time. You know, right now the frankly, the market can move either way, but you have to ride the wave, you have to have to understand there's going to be ups and downs. Right now we're riding that wave to the upside. Hopefully, this this wave to the upside builds into a tsunami and an absolutely massive swell that you know, just just continues to take shiv and others higher. So, I appreciate you guys. I hope you enjoyed the video.

[00:06:00]Let me know your thoughts below. Do you think this rally is going to turn into that violent move? Is this going to extend to some some highs that we frankly haven't seen in a very long period of time? Or are we just going to come kind of crashing back down? Have a great day. Show your love below. Catch you guys in the next one. Take care.