🐧 $PENGU
Trapping the Bulls? The Big Short Setup! 📉
Don't get caught on the wrong side of the trap. While the crowd chases the bounce, the technicals are screaming exhaustion. We are looking at a high-reward Short Play as PENGU hits the ceiling of its current range.
🔍 The Logic Behind the Trade
Trend Check: On the 4H/Daily, we aren't in a bull run; we are in a sideways range. This move up is a counter-trend bounce ripe for a rejection.
Momentum Fading: The 15m RSI is hovering at 50.54. It's struggling to cross the midline, signaling that the buying pressure is drying up.
Tight Risk: We are entering near the range high, allowing for a very tight Stop Loss compared to the potential downside.
📉 Trade Execution Plan
Signal Type: SHORT 🔴
Risk Level: 8/10 (High Volatility)
Entry Zone: 0.01193 – 0.012018
Stop Loss (SL): 0.012237
🎯 Take Profit Targets:
TP1: 0.011711 (Key Support)
TP2: 0.011624
TP3: 0.011449
💬 The Debate
Is this the "final pump" before a total meltdown, or do you think the range will hold and push higher? Drop your bias in the comments! 👇
By: Nabiha Noor
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