It was guessed correctly! #pengu fell below 0.032😥😥
Looking simply at the candlestick chart, it shouldn't be a retreat by the whales; the probability of profit-taking is very high, especially since the whole network is in FOMO for #ETH.
.#PENGU has fluctuated by 40,000 dollars again, sharing a few observations.
① At 0.033-34 (the upper red box), the upper and lower shadows are very long, which could indicate many situations: are retail investors divided? Is there a distribution by the big players? Has new institutional capital entered?
② The key point at 0.031, previous high + increased trading volume (the lower red box), has already been tested once (actually pierced), if this level is lost, it could be a bit dangerous.
③ 0.033 is the opening price for Binance spot trading.
Overall, I tend to be more conservative in my operations, with almost no bottom positions left at the SELL points; making money in the secondary market isn't difficult, the real challenge is executing the exit strategy.
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