โ๐ฏ LONG SETUP: $PIPPIN /USDT โ Catching the Oversold Bounce
โPIPPIN is currently trading at 0.3246 after a sharp -20.25% drop. While the trend is bearish, the indicators suggest the selling pressure is exhausted, presenting a high-risk, high-reward opportunity for a relief bounce.
โWhy Long Here? (The Logic)
โExtreme Oversold: The RSI(6) is sitting at 31.33. Historically, when RSI hits the 30 zone, a technical bounce (snap-back) is imminent as sellers take profit.
โSupport Zone: The price is approaching the psychological 0.3000 level. The recent wicks show buyers are active in the lower range.
โGap to EMA: There is a large gap between the price and the EMA(7) at 0.3414. Price naturally seeks to reconnect with its moving averages.
โ๐ The Trade Plan (Reversal/Scalp)
โ๐ต Entry Zone:
โAggressive: $0.3200 - $0.3240 (Current Market Price).
โConservative: $0.3050 (Limit order for a wick fill).
โ๐ข Take Profit Targets:
โTP 1: $0.3415 (Touching the EMA 7 Yellow Line โ rapid scalp).
โTP 2: $0.3640 (Testing the EMA 25 Pink Line โ major resistance).
โTP 3: $0.3800 (Breakout target towards EMA 99).
โ๐ด Stop Loss:
โHard Stop: $0.2850 (Just below the 24h Low).
โRisk Management: If the price closes a 4H candle below 0.3000, consider exiting early as the crash may deepen.
โโ ๏ธ Caution:
This is a Counter-Trend Trade. You are swimming against the current. The MACD is still bearish, so this play relies strictly on the RSI "Rubber Band" effect. Secure profits quickly at TP 1!
โDisclaimer: This is a personal view, not financial advice. DYOR.
โ
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