$PIPPIN 📈
$PIPPIN surging with 3.4x buy volume spike, can it sustain?
- Given the extraordinary volume and strong bullish candle, I expect a short-term continuation to the upside, but likely with some pullback or consolidation first as traders take profits and late buyers get trapped.
- If you want to trade this, the ideal scenario would be:
- Wait for price to retest the 0.02170–0.02116 support region.
- Watch for a bullish confirmation (like a pin bar, bullish engulf, or a sharp rejection wick on 5m/1m after a sweep into this zone).
- Long entry: 0.02170–0.02116, after confirmation.
- First take profit: 0.02247 (first resistance above), second take profit: 0.02296–0.02340 if momentum is strong.
- Place stop-loss just below the swing low of the pullback or below 0.02052, where structure would be compromised.
- If price instead surges and closes above 0.02247 with strong volume, a momentum breakout long can be attempted there, targeting 0.02340–0.02400, again with stop-loss below the local swing low.
- If price dumps below 0.02034 and closes there, I would shift to a bearish bias and expect deeper retracement towards the 0.01843–0.01804 area.
📝 This is not investment advice, just an educational analysis. Volume spikes like this are prime spots for smart money to make moves, but always wait for clear confirmations and manage your risk carefully! 🚦
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