2026-01-18 14:28:33

Recently, looking at the trends of TRX, FARM, and BTC, $PENGU's performance has been the worst—dropping from its all-time high all the way down, with the double top pattern showing quite a strong correction. However, upon closer inspection of the chart, it seems to be stabilizing in a certain area, and the local bottom characteristics are gradually emerging.

This timing is interesting. From a technical perspective, the correction after a double top often hints at a potential reversal—but this requires volume confirmation and the key support levels to hold. BTC, as the market leader, will directly influence the pace of these coins.

The question is: Is this really the start of a price reversal? Or is it just the last dip before a rebound? I’d like to hear everyone’s opinions. In this market cycle, who is bottom-fishing? Who is still on the sidelines?

TRX0.04%

FARM1.53%

BTC2.8%

PENGU5.67%

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NestedFox

· 01-21 14:06

Pengu is really amazing. I didn't dare to look at the K-line after it dropped from the high level... To be honest, I'm a bit tempted at this position. Waiting for BTC to give a signal before bottom fishing, otherwise it's just waiting to be cut. Double top reversal? It depends on whether the volume supports it; just looking at the pattern isn't reliable. I think we should wait a bit longer; this wave might really be the last dip. If Pengu truly stabilizes, there's still room for a rebound... just worried about another sharp decline. Who dares to heavily buy the dip now is a real hero; I'm in a wait-and-see camp. Bottom signals are indeed emerging, but with such low trading volume, it's all for nothing... When BTC moves, all these small coins follow; Pengu's independent reversal is basically impossible.

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GateUser-4745f9ce

· 01-21 03:07

PENGU's drop this time is really outrageous. I sold early, and now watching it makes me feel exhausted. If the trading volume isn't strong, there's no point in a reversal; it's all just illusions. --- We've all seen double top corrections, but few actually rebound. If BTC isn't strong enough, it probably has to keep crashing. --- Bottom fishing? I don't have that courage. Let's see how BTC moves before making a decision. Entering now just makes you cannon fodder. --- Bottom characteristics? Don't joke. I've heard this kind of phrase too many times. Every time they say it's stable, but it just keeps falling. --- Instead of guessing a rebound, it's better to watch the market. No matter how much the little brother tries, the big brother remains unmoved. --- I'm just wondering why anyone still looks at PENGU. This coin has no hope anymore. --- Trading volume can be the biggest deceiver. It looks substantial but is just wash trading. When a real reversal happens, you can feel it even with your feet. --- Observer+1. I didn't even touch this position before I saw it clearly. Once was enough to cut losses. --- No matter how perfect the technicals are, they can't withstand a market crash. PENGU's fate has long been decided by BTC. --- Who dares say this is the bottom? I just think they're not awake yet.

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FreeRider

· 01-19 12:40

PENGU this wave indeed underperformed, but I'm already tired of the double top reversal theory. Whether it can really save it depends on BTC's performance. Bottom fishing is risky. The volume hasn't picked up yet, and you're trying to bottom fish? It might just be a rebound before a decline. I think we should wait a bit longer. Hey, what's the specific support level you're talking about? Can you point it out? Instead of guessing the reversal, it's better to keep an eye on BTC. When it moves, other coins will follow. Currently, guessing like this is a bit meaningless. While a double top does open up more imagination space, I still think it's not that simple.

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SolidityNewbie

· 01-18 14:58

PENGU this time is really unfortunate, but I think you're overthinking it. Wait for BTC to move first before making a move. --- Double top reversal? Ha, it depends on whether the trading volume is strong enough. Those who are bottom fishing now are all brave. --- Are you holding steady? Why do I still see you trembling? Keep observing. --- If the support level can't be held, everything is pointless. Anyway, I don't dare to act. --- Whoever is bottom fishing is trapped. I've learned this lesson. --- I have a slight urge to buy the dip, but rationality tells me to wait and see BTC's next move. --- The technicals look good, but I'm just worried that a big bearish candle could make all the effort worthless. --- It takes a lot of courage to talk about a reversal. I think it's still early.

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MevHunter

· 01-18 14:40

Is PENGU still falling? I got out a long time ago, it hurts to watch. I'm tired of hearing the double top rebound theory; the key is whether BTC gives us face or not. --- Bottom fishing? Let's wait and see. Entering now just makes you the bag holder. --- Volume is the real boss; all reversals without volume are just fooling yourself. --- I feel like we need to explore further this time; the bottom won't appear so quickly. --- If BTC continues to fall, any support levels are useless. Don't be too optimistic. --- Technical analysis looks good, but the real order book is king. I'm still on the sidelines. --- A double top often leads to a trap; honestly, it's not that simple to reverse. --- Who said it's stabilized? It's just a rebound false alarm.

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BearMarketMonk

· 01-18 14:39

PENGU this wave is indeed tough, but I think you're overthinking it. The trading volume just isn't cooperating. Wait, you said it's stabilized? Why do I still see it falling? Bottom fishing? Bro, this market isn't dead yet. After a double top, it's usually a continuation downward. Don't be fooled by the rebound. I bet the last drop, don't move until BTC gives a signal. By the way, who still has the courage to bottom fish at this time? Definitely a warrior or a gambler? Trading volume is king; rebounds without volume are all fake.

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AirdropChaser

· 01-18 14:37

PENGU this time is really miserable. I looked at the chart for a long time but couldn't figure out where the bottom is. BTC is not moving, so I dare not do anything. I'll wait for the trend indicator to signal first. After a double top, the rebound is always a trap, and this time it feels even more uncertain. With such sluggish trading volume, do you really dare to buy the dip? I think it's more like catching a falling knife. Holding the support level steady is the only hope, otherwise it will continue to break new lows.

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BearMarketLightning

· 01-18 14:35

Those who are bottom fishing PENGU are all brave warriors. I can't see through this wave. Let's wait for BTC to confirm the direction first. --- When the double top collapsed, it was really a bit scary. Now that it's stabilized? I feel like it's still grinding at the bottom. --- Trading volume is the true test of gold, just looking at the K-line pattern can easily lead to pitfalls. --- Who dares to go all-in on PENGU at this time? I really respect that, but there is indeed a chance to double. --- BTC not moving, any reversal is pointless. It's better to wait for the leader to set the pace. --- I just want to ask everyone, have you ever bottomed out perfectly? Anyway, I always miss it by a little. --- PENGU really tests mental strength. Watching the limit-down makes your mindset collapse, and it's over. --- No matter how perfect the technical analysis is, it can't withstand a piece of bad news. Macro perspective still matters. --- Feels like gambling on whether BTC will have another wave, and PENGU will take off with it.

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ChainMelonWatcher

· 01-18 14:32

I’ve been tired of PENGU for a long time, I feel like the bottom hasn't been truly confirmed yet, don’t be fooled by the technicals --- Volume is key, any rebound without volume is fake, can’t gamble on it --- Bottom fishing? I’m still watching, wait for BTC to move first --- Double top reversal would be too simple, there might be another drop before the real bottom appears --- The chart looks good, but I don’t believe PENGU can turn around, this coin is just a trap --- I agree with the last drop theory, but who knows which one will be the final one --- If the support level doesn’t hold, it’s all pointless, it’s still too early to discuss a reversal --- Watching, waiting, and observing more, clearing out positions feels much better --- Volume confirmation? Sounds like a fairy tale --- I think it still needs to drop, the psychological bottom hasn’t been reached yet

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