$PIPPIN /USDT – Dead Cat Bounce or Reversal Attempt? ⚠️
After a massive dump on the 4H timeframe, price is now showing a weak base formation near lows. This could either be a short-term relief bounce or continuation of the downtrend.
📉 Short Trade Setup (Safer Bias)
• Entry: 0.05500 – 0.05600
• Take Profit (TP): 0.04800
• Stop Loss (SL): 0.06080
Reasoning:
The chart clearly shows a strong bearish structure with continuous lower highs and heavy selling pressure. The recent sideways movement is likely just consolidation before another leg down. Volume spike during the dump suggests strong distribution, and current price action lacks bullish momentum. Unless a strong breakout above resistance happens, shorts remain the higher probability play.
Trade short on $PIPPIN here 👇
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