🚨 Hana's script has come true! 🚨
$PIPPIN has arrived at $0.56
Remember what I said before? "Once it drops below the $0.65 neckline, the pattern is confirmed, and the first target looks at $0.56"
Now this double top (M head) has completely emerged, and panic selling is taking place
📉 What does this position ($0.57) mean?
We are currently at the first platform on the edge of a cliff
✦ $0.56 - $0.57 is the Fibonacci 0.618 golden ratio of this wave of upward movement, and also the previous area of concentrated chips
✦ Technical significance: theoretically, there will be "support" here, robots and quantitative trading will try to buy here, so you may see the price fluctuating up and down here
🔮 The next two paths (key 4 hours)
1. Scenario A: Dead cat bounce 🐈
Conditions: The 4-hour line closes above $0.56
Trend: The price will bounce to test $0.60 - $0.62
Note: This is not a reversal! This is "confirming resistance", the previous floor ($0.65/$0.62) is now the ceiling
Action: If you're trapped above, a bounce to around $0.60 is the last escape wave, don't fantasize that it will directly V-turn back to $0.76
2. Scenario B: Support collapse, heading straight for $0.40
Conditions: A large volume directly breaks through $0.56, with no bounce at all
Trend: Market confidence collapses, the last bullish defense line crumbles
Target: The next strong support is in the range of $0.40 - $0.42
🌸 Hana's ramblings～
The current market sentiment is very fragile, so pay close attention to whether it can hold above $0.56
If you followed Hana to short, you should be making a good profit now. It is recommended to take some profits here at $0.56, and set a stop loss for the remaining to see if you can catch the big move to $0.40🤑