Put your coats back on penguins. It's about to get chilly!
Pudgy has been on a fishy bull run for the last 3 months racking up 230 percent. It's time to chill out a bit while traders take some profit. Here is a great setup for a 14 percent short entry.
Price action is currently sitting slightly below support levels of .036. There are currently (2) 4 hour candles closed below the support zone indicating price action will likely slide into the lower support zone as marked on the chart. Price may break above the .036 resistance level into the small support zone of around ~.038. Make sure to set your stop loss slightly above this time so you are not in the liquidity zone if the bulls push back.
Price action is currently sitting slightly below support levels of .036. There are currently (2) 4 hour candles closed below the support zone indicating price action will likely slide into the lower support zone as marked on the chart. Price may break above the .036 resistance level into the small support zone of around ~.038. Make sure to set your stop loss slightly above this time so you are not in the liquidity zone if the bulls push back.
Trade active
As predicted the bulls pushed back breaking "the bottom support zone" which is now a resistance zone. Price action temporary reached out target entry of .038 cents. The liquidity grab for stop loss hunts occurred pushing price 5 percent past our entry. Price action failed to reach the next level of resistance at around ~.041. This is future confirmation that the bears are in control. There are currently two 1 hour candles closed below the previous lows. Remember pudgy is mostly a 'meme' coin with some NFT attached to it. Price volatility is to be excepted.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.