$PENGU /USDT — Short Setup
Bias: Short
Trade Plan:
Entry: 0.008721 – 0.008793
Stop Loss: 0.008973
Take Profits:
TP1: 0.008541
TP2: 0.008469
TP3: 0.008325
Why this setup?
The 4H structure is armed for a short, with the daily trend firmly bearish, reinforcing downside continuation. Lower-timeframe RSI shows weakness without being oversold, leaving room for expansion lower.
Key resistance aligns with the upper entry zone at 0.008793, and if price stays capped below it, there’s a clear path toward TP1 at 0.008541, with continuation targets below.
Debate:
Is this the next leg down, or a bear trap setting up a reversal?
Invalidation is clean — reclaim above resistance negates the setup.
Trade PENGU here 👇
PENGUUSDT
Perp.
0.007429
-14.31%
XAUUSDT
Perp.
4,859.35
+0.90%
XAGUSDT
Perp.
85.27
+8.62%