$PENDLE - update:
I was right to be cautious!
➡️The HTF price remain bullish (weekly / monthly) and the current price found support on the 3.800$ zone!
At first glance it may look like the uptrend has been broken, but it's not totally the case yet.
[Hidden support (LS) daily bounced on the uptrend].
➡️The current price might react upward or going sideway for a while above the 3.800$!!
It's difficult to predict the short term moves, but a possible scenario would be a retest 4.50 - 4.80$ zone before another dump.
Is it a double bottom? [D1 - H4]
➡️A daily close below 3.800$ is required to confirm a further decline towards $3,400🚨
As long as the price is stuck below the 4.600$ & the downtrend level we should see another dump toward 3.400$!
I Personally recommend to wait for a liquidity trap and a test of the 3.800$ level to enter in long position.
🎯Key resistances:
4.60 - 4.80 - 5.00$
