### $PENDLE Updates ###
The high timeframe (HTF) analysis remains bullish on a weekly and monthly basis, with the current price finding support at the $3.800 zone. Despite appearances, the uptrend has not been definitively broken. The price is showing resilience above $3.800, which could lead to an upward reaction or sideways movement.
Short-term predictions are challenging, but a retest of the $4.50 - $4.80 zone is possible before potential further declines. The formation of a double bottom pattern is uncertain and would need confirmation.
A daily close below $3.800 would be necessary to confirm a bearish trend towards $3.400. If the price remains below $4.600 and the downtrend persists, we could anticipate a move towards $3.400.
For entry into a long position, it may be prudent to wait for a liquidity trap and a retest of the $3.800 level.
Key resistances to watch are at:
$4.60
$4.80$5.00
