$PENGU | Support Absorption → Expansion Setup
Just look at the $P$PENGU ice action right now — this is exactly why I consistently emphasize trusting key levels and structure, not emotions.
After a deep corrective move, $PEN$PENGU entered a high-quality accumulation phase. On the weekly timeframe, price is holding firmly at a major demand zone, with clear signs of seller exhaustion. Despite multiple attempts, sellers have been unable to push price lower, indicating strong support absorption by smart money.
This type of tight compression near demand typically precedes a volatility expansion to the upside, especially when it occurs after a prolonged pullback. The market is coiling — and when it releases, the move can be aggressive.
Trade Structure
Entry Zone: 0.0095 – 0.0110
Bullish Bias Above: 0.0090
Stop-Loss: 0.0078 (structure invalidation)
Upside Targets
TP1: 0.018
TP2: 0.028
TP3: 0.040
As long as price continues to hold above the demand base, the bias remains bullish, with higher targets achievable once expansion confirms. Patience during compression is key — this is where positions are built, not chased.
PLEASE FOLLOW BDV7071.
Always manage risk and size positions responsibly.
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