Never Again Will We Buy Pi at $0.53

After a strong downward push seeking liquidity below a relevant support, the Pi Network began to show signs of reversal. The price formed a double bottom near this liquidity region, accompanied by a bullish divergence in the RSI — a classic signal of a possible change in direction.

This scenario marked the beginning of the corrective wave C, which develops in five sub-waves according to Elliott's Theory. Currently, we are in wave 1 of C of this structure, and the most interesting thing is that the end of wave 5 of C coincides exactly with the peak of a descending triangle, which served as a consolidation zone and now functions as a technical target for our operation.

This alignment of technical factors — reversal pattern (double bottom), divergence in the RSI, wave structure, and chart pattern — reinforces the possibility that this correction is coming to an end. If the price breaks this region strongly, we may see the resumption of the previous upward trend, with the market aiming again for the historical peak (ATH), or even surpassing it.

This article is for educational and technical analysis purposes only. It is not a recommendation to buy or sell. Always use risk management and conduct your own analysis before making any decisions in the market.