$PI

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Looking at the 15m chart, PI/USDT had been riding a strong upward trend, testing the upper Bollinger Band (UB: 0.07180) and peaking at a local high of 0.07210. However, a clear market structure change has just occurred; the price faced rejection at the top, printed a series of lower highs, and has now broken below the middle Bollinger Band (MB: 0.07090), currently trading around 0.07078. The K-line analysis shows a transition from bullish momentum to a consolidation/pullback phase, with the recent candles exhibiting longer lower wicks and bearish bodies as the price hunts for support near the lower band (LB: 0.07000). The MACD is also confirming this shift, showing a bearish crossover below the zero line with red histogram bars expanding, indicating that short-term momentum has flipped to the downside.

The most recent price action features a cluster of Shooting Star and Bearish Engulfing style candles near the 0.07210 resistance level, which signaled the initial selling pressure. Currently, the chart is printing Spinning Tops and small Doji candles near the mid-line, which briefly touch on the pattern of market indecision as buyers try to defend the 0.0707 level while sellers maintain control from the recent drop.

I predict that PI/USDT will likely test the lower support zone around 0.07000 - 0.06966 (the recent swing low) in the near term, as the 15m MACD suggests further downside correction is needed before the broader uptrend can resume. My trading plan is to avoid entering a long position right now, as catching a falling knife during a mid-band breakdown is risky. Instead, I will wait for the price to flush out to the lower Bollinger Band and look for a bullish reversal confirmation (like a hammer or a strong green engulfing candle) to enter a long position. Conversely, if the price bounces but fails to break back above the MB (0.07090) with strong volume, I would consider a short scalp down to the LB.

What Trade Plan I Follow & Why / When I Start My Trade❓️

I am following a "Wait-and-See Support Bounce" plan. The reason is simple: the MACD is currently bearish, and the price is below the 15m moving average, meaning the immediate trend is down. I will start my trade only when the price approaches the 0.07000 psychological support level, or the lower Bollinger Band, and I see a 15m candle close with a long lower wick and a green body, accompanied by a bullish MACD histogram flip. If the price instead breaks below 0.06966 with high volume, I will stand aside completely, as the market structure would then turn bearish.

The market is currently in a short-term corrective phase within a higher-timeframe uptrend. The immediate bias is neutral-to-bearish for the next few 15-minute candles. Do not chase the current price; wait for the price to reach the 0.07000 support zone to look for a high-probability long setup, or wait for a confirmed break above 0.0710 to re-enter the uptrend. Stay patient and let the chart confirm the next move.