#PIPPIN won't make any big moves. There's selling pressure from trapped positions above 0.2, and strong support around 0.16 below. There's also the risk that shorts who entered around 0.19 will take profits. Right now, it's just fluctuating between 0.16 and 0.19, sweeping contracts in this range—both longs and shorts are getting wiped out. Entering the market now, whether long or short, doesn't give much advantage. Also, be aware that attention is dropping and trading volume has plummeted. Don't be fooled by the on-screen trading volume; it's just the big players trading with themselves. Shorts also need to be careful—situations like this could result in a sudden upward spike to wipe out shorts, forcing spot buying. Set your stop-losses!
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#PIPPIN won't make any big moves. There's selling pressure from trapped positions above 0.2, and strong support around 0.16 below. There's also the risk that shorts who entered around 0.19 will take profits. Right now, it's just fluctuating between 0.16 and 0.19, sweeping contracts in this range—both longs and shorts are getting wiped out. Entering the market now, whether long or short, doesn't give much advantage. Also, be aware that attention is dropping and trading volume has plummeted. Don't be fooled by the on-screen trading volume; it's just the big players trading with themselves. Shorts also need to be careful—situations like this could result in a sudden upward spike to wipe out shorts, forcing spot buying. Set your stop-losses!