Can you be balding without increased shedding?

It's possible to experience balding without noticing an increase in hair shedding. I recommend getting a formal evaluation with a hair loss expert. In our office, we use prp and progesterone with great results. See an expert. Best, Dr. Emer

The answer is absolutely yes, and when you are that is when you should really be worried.
Androgenetic alopecia is characterized by miniaturization of hairs.  Every day you lose 100 hairs as part of the normal cycle of hair growth, fall and replacement.  As the hairs become more and more miniaturized over time, they eventually become so small and fine that you do not notice the 100 hairs a day falling.  Eventually the follicles become so weak they wont even replace the fallen hairs and you will have no hair fall from those follicles at all. 
It is important to act quickly and reverse the hair loss process before the hair follicles become permanently affected and can no longer grow hair at all.
I would recommend looking for a hair loss doctor who can reverse the hair loss process as quickly as you can before its too late to reverse it.

Hair that has started to be lost becomes thin, shinny and colorless peach fuzz, gradually disappearing in time. that called as miniaturization of the hair.Shedding may or may not go along with miniaturization.