🔥
$PENGU - SHORT TERM CORRECTION LOADING 📉
🤷LET ME TELL YOU WHY 👇👇👇
$PENGU currently trades at 0.012900
with over +5.22% gains. Buyers are already
slowing down and have started to take
some of their profits.
During rally from 0.0086 to monthly high
at 0.013815, there wasn't any meaningful
correction in the market to justify upside
continuation, potentially until now maybe..
Price now forms bearish Marubozu candle
on the 4 hourly time frame indicating that
sellers are getting control of the market.
MACD on 15 min time frame has already
flipped to bearish as it crosses over
indicating selling pressure surpassing buying.
Panic may start to hit the market
& weak hands will quickly fold.
If this selling momentum holds water
and MA7 is breached at 0.0128 then
we'll quickly see price falling to MA25
at 0.0119 for support, ultimately retracing
back down towards MA100 at 0.0098.
This reset of price is no way shape or
form an end to the bull market,
it will be a healthy correction
so price can rise higher
in the coming sessions.
As fresh new buyers enter the market
at lower prices and buy
$PENGU .
What are you thoughts on this?
DYOR
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