$PIPPIN AT THE MAJOR RESISTANCE LEVEL.. WATCH OUT!
FULL TECHNICAL ANALYSIS YOU CRAVIN' RIGHT NOW. đđ
On the 2 hour time frame, we can see that price
if forming top resistance trendline in a down trend
channel and bottom we can see also makes the
expanding triangle structure. However the demand
around 0.25 still stays strong as price has multiple
times bounced from that level. It's important to notice
that thought 0.25 support remains strong but length
of profit taking period is getting shorter and shorter
also making structure into an descending triangle
which is typical bearish structure which shows
that sellers remain in control as price goes
through slow distribution phase as smart money
exit at best price points they can hand over to
common folks who think that $PIPPIN will soon
be $1 & $20.. It's only matter of time when support
at 0.25 will be gone & price will free fall towards
0.05 level. Don't get me wrong, because if more
liquidations compile on top of shorts then market
makers will shift their focus from distribution to
accumulation before you know it. Current stance
tells that we are at major trendline restance
and can potentially see price correct to bottom
support. Targets : 0.365, 0.335 & 0.275. SL : 0.45.
DYOR
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