$PIPPIN 📊 3.5x Sell Volume Spike on
$PIPPIN , distribution or shakeout?
- With the evidence of a stop hunt above the most recent swing high at 0.01714 and the subsequent strong, high-volume selloff, this looks like classic distribution by smart money, not just panic selling.
- I expect the price to remain under pressure and move further towards the support zone at 0.01527–0.01510. If this zone breaks, next support is near 0.01501.
- My approach would be to look for short entries on any weak bounce toward the 0.01595–0.01654 region, but only after seeing rejection signals (15m or 5m pin bar, shooting star, or a series of lower highs).
- Example trade setup: If price retests 0.01654 and forms a bearish engulfing or pin bar on the 5m/15m, I’d consider entering short. Take profit at 0.01527 (first target), then 0.01510 (second target). Stop-loss should be set above the swing high of the rejection candle, or above 0.01670 (the last failed resistance).
- If price instead reverses strongly from 0.01527–0.01510 with clear bullish absorption or a strong reversal pattern, I’d reconsider the bearish outlook and wait for more signals.
📝 This is not investment advice, just my educational report on the current market structure and smart money behavior. Always wait for confirmation and manage risk!
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