The correction is over. After a pullback from the highs, PENGU is now carving out a strong bottom and showing the first powerful signs of a reversal. This is the exact moment savvy traders wait for to get in before the crowd.
Don't let the previous red candles fool you; the momentum is shifting now.
š The Bullish Case (Why Buy PENGU Now?)
š¹ Key Support Found: The price has found a solid floor at the $0.01565 level. The selling pressure has officially stopped here, and buyers are stepping in.
š¹ Downtrend Exhausted: The downtrend from the $0.01670 peak has clearly lost its steam. The market is now looking to reverse.
š¹ Early Reversal Signs: We are seeing the first strong green candles and a potential "W" bottom forming. This is the earliest signal of a new move up, offering the best entry price.
š¹ Excellent Risk/Reward: Buying near this potential bottom provides a fantastic risk-to-reward ratio. Your potential upside is massive compared to the small risk if you place a stop just below the low.
š The Trade Recommendation:
This is a classic "catch the bottom" setup. The signs are pointing to a reversal.
ā BUY: In the current zone of $0.01570 ā $0.01575
šÆ TP1: $0.01610 (First area of resistance)
šÆ TP2: $0.01640
š SL: $0.01560 (A tight stop just below the absolute recent low)
š„ The Bottom Line: The selling is over, the reversal is beginning, and this is your chance to get in at the ground floor of the next leg up.
š Do you think PENGU will re-test the highs this week? Let me know! š
ā¤ļø Like if you're bullish on this reversal, and follow for more early calls!