Quick Market Commentary: $PNUT
This is a very popular meme project recently, with many mid-influence KOLs vigorously promoting this cryptocurrency, so it is worth exploring whether there are potential opportunities within.
From the 30-minute level (30F), it is currently in a three-stage downward trend structure.
In this, segment ac shows a divergence phenomenon, and the internal central area of segment c is undergoing expansion and upgrading, currently at a critical point for divergence.
Switching to the 5-minute level (5F) perspective, it can be found that there is a consolidation bottom divergence situation, and it is currently in a pullback process; however, the pullback strength is relatively weak and has not produced any decisive effective damage, so the possibility of forming a third type of selling point and extending cannot be ruled out.
Trading Operation Suggestion: Although there is a bottom divergence interval structure, it seems slightly better than the neighboring act, but given the current situation, it is still not suitable to rush in.
Even if there are many nested buying levels, it essentially still belongs to a left-side trading strategy, containing a significant speculative gambling nature. Community ID: Yunzi Community, No Waste Good County
Unless a 5-minute level central area can be constructed subsequently, successfully forming a third type of buying point, allowing us to clearly observe the current market reversal situation, otherwise I will not consider intervening in trading this cryptocurrency.
