PIPPIN may be about to have a big event!
First, let's look at the technicals:
The yellow and white lines are firmly pressing below the zero axis, and the green bars are still expanding, clearly indicating that the bears haven't finished attacking. But do you know what the scariest part is? There are two key support levels below, one at 0.28730 and one at 0.25625. If these two levels can't hold, I can't imagine the consequences...
Don't panic yet, I'll clarify it for you. Right now, there are two major obstacles above the price: 0.34031 and an even stronger 0.37123. You want to rush past? It's not that easy. The MACD is lying below the zero axis, indicating that there is no momentum to go up in the short term. So, if it rebounds to around 0.34031, that's your chance to escape, don't be greedy!
Sheng Yi's view: In the short term, one can take a small rebound in the range of 0.31086-0.28730, tonight, keep an eye on 0.28730. If it breaks, then look at 0.25625; if it holds, there will be a small rebound. But remember: the trend is still downward, don't easily go long.
In the past 4 hours, there were liquidations of 450,000 USD, and in the past 24 hours, 2.8 million USD was liquidated. These are bloody lessons. The market has already given the signal: the overbought area has appeared, and now it’s time for the bears to take action. If you are still heavily invested and holding on at this time, I can only say that you are gambling with your life.
Then why do I dare to say there are opportunities? Because real market movements often occur when most people are in despair. The RSI and MFI are still observing, indicating that big funds haven't truly acted yet. Once there is a sudden drop with increased volume, it is often the final blow. At that time, it will be our real opportunity to pick up cheap chips...
But do you know what the most common mistake players make? It's not that they can't read the charts, but that they can't control their hands. Clearly when they should short, they always want to catch the bottom; clearly when they should run, they fantasize about doubling. If you also want to learn when to escape and when to rush in, follow me and find Sheng Yi's chat room: 【1143032750】, making money as easy as drinking water!
