🔴 *$PENGU
— Long Liquidation Flush*
*Liquidated:* $5.6187 K at $0.01186 (longs wiped)
*Entry Zone (EP):* $0.0112 – $0.0119
*Targets:*
- 🎯 *TP1:* $0.0131 (+10 % from $0.0116)
- 🎯 *TP2:* $0.0145 (+25 %)
*Stop Loss:* 🛑 $0.0106 (‑8.5 % from $0.0116)
*Risk/Reward*
- TP1 → R:R *≈ 1.2 : 1*
- TP2 → R:R *≈ 3 : 1*
*Why a reversal could work*
- Current price ~$0.01 (Finnhub ¹) → still above the $0.009‑$0.010 support band that historically triggered bounces (Brave New Coin).
- RSI (daily) oversold, showing early bullish divergence (Richie, SolidTradesz).
- Volume spike on liquidation → cleared long leverage, thinned downside liquidity, setting up a short‑squeeze if $0.012 + volume returns.
*Support / Resistance*
- *Support:* $0.0106 (SL), $0.009‑$0.010 (major base), $0.008‑$0.007 (next cushion).
- *Resistance:* $0.012 (trigger), $0.0131 → $0.0145 (targets), $0.015‑$0.018 (liquidity cluster).
*Trade flow*
- *Enter* on *15‑min close above $0.012* (confirmation) or dip to $0.0112 for tighter risk.
- *Partial profit* at $0.0131 → move SL to $0.0116 (break‑even).
- Scale out: 40 % at TP1, 60 % trail to TP2.
🚨 *Risk note*
- SL at $0.0106 ≈ 8.5 % loss → 1 % of portfolio if spot.
- Leverage (2‑3x max) → 8.5 % move = 17‑25 % PnL swing.
- Market cap ~$761 M, low float → high volatility, news (Binance week, macro shock) can flip instantly.
🤔 *Spot or perp?*
*Leverage (if any)?*
*Prefer split entry (half at $0.0112, half at $0.0119)?*
#PENGU #Long #Reversal #Crypto 🚀📉