okay so Shiba Inu has formed its first death cross of 2023 and that's what we're going to talk about in this video as always thanks for your support I truly appreciate you we're going to talk about this what does this mean is this a uh is this a you know a death knell what does this really mean that's an interesting word death knell you ever heard that it's an old word all right so I'm going to show you exactly what's going on as always thanks for your support and here is what we're talking about so shib has formed its first death Cross of 2023 so what is a death cross a death cross is a bearish indicator it's a bearish pattern okay where whereby um right here it is the daily moving average uh 50 has recently crossed under the moving average the 200a so the 50-day the 200 day uh this pattern has not appeared since February of 2022 you can see right there now is this an overly bad thing is this a is this something that is like signaling the end no this is a pattern that presents itself at times okay let me show you kind of currently what is going on in crypto if you take a look at ship right here you can see that shib is at five zeros eight uh seven seven okay and if we look at kind of the one month chart you see this move down now this move down looks dramatic right this move down but it's really not per se you had four zeros one one and change and now we're down to five zeros eight this move down is not a Shiba Inu specific thing which back to this point of this death cross scenario okay I want to point out the fact that the entire crypto Market has moved down in this same period and the entire crypto Market is languishing is not doing a lot and so this is not a specific thing or a warning sign of more bad to come for shib this is an overall kind of macro Market scenario that we really do see playing out here and again I wanted to point that out right now if the if the water is getting a little too choppy or warm for you so to speak or whatever metaphor works for you and you feel like you need to get out of ship so be it that's your call right but me I'm staying put I know that this is just kind of part and parcel of it and by the way we've got a lot of people that are buying at these levels this has to be the right thing for you okay so with that said just kind of wanted to make you aware of this this is not necessarily A Bad Thing per se it's part of it is what it is right now and this is kind of where we're at in overall crypto uh kind of a macro factors that are impacting specific you know specific cryptos shib presenting his first death cross which sounds really really really horrific but it is a it's a trading pattern it's you know it's a bearish trading pattern and right now I think we're in that we're going to be here in these bearish Waters or scenario for quite a little bit all right see you bye
