PIPPIN - BEARISH 🔴🔴
PIPPIN is currently testing the first important area.
The chart shows two crucial areas, and now the price has just reached the initial area. However, up to this moment, there has been no valid confirmation.
Looking at the larger timeframe, the market structure has changed from bullish to bearish. This is the main context that needs to be considered. This means that, in broad bias, selling pressure is starting to dominate.
But in the area currently being tested, the smaller structure has not yet changed and is still inclined to rise. There has been no break of structure or clear reversal confirmation.
My position right now: still monitoring.
My focus is waiting for confirmation in this area for a short entry opportunity, not just jumping in.
If confirmation appears, then there is a reason to execute.
If not, then patience is key. The market is not going anywhere.
Stay tuned, I will update again if there are developments or further confirmations.
#pippn $PIPPIN
