#Pnut
PNUT rebounded strongly by 20%, but why is Squirrel not optimistic in the medium term? Here is the reason!
Dear friends, today PNUT rebounded 20% on the support level of 590, which is so hot! I see that many friends are excited, and some even chased it in a rush. But to be honest, I personally am still not optimistic about PNUT in the medium term.
Why? There are two reasons:
The general trend of PNUT is still downward. Unless it can break through the pressure level of 771 and stand firm, it will still fluctuate back and forth in the range of 590 to 771. Moreover, the trading volume of this rebound is not small.
So what should we do today? It's also simple. Let's take a look at the situation near 771. If the pressure is high, we will sell first, that is, short.
Then, take a look at the performance of the pressure level of 771. The most likely scenario is that it will fluctuate for a while at 771 and then start to go down.
Of course, there may be a false breakout, and then continue to go down, or slowly rise, continue to break through and go up, or turn around and go down when it hits 771. How we deal with it specifically depends on its next performance.
Note: PNUT has not shown any signal that its current rise is about to end, so let's not rush into the market.
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