PIPPIN's recent market movement has caused quite a stir. It surged directly from 0.24 to 0.31, and on the surface, the rebound momentum looks impressive. However, if you examine the chart details closely, the problems become evident.

Looking back at that long lower wick, it's clear to anyone paying attention—this is the market maker's precise dump at a specific level. Although the subsequent consecutive bullish candles look good on the surface, the selling pressure at higher levels hasn't actually been resolved. This round of uptrend is essentially a final chip exchange at elevated prices, waiting for retail traders to FOMO in.

Once the bull trap achieves its goal, the next move will be a liquidation harvest cutting through both longs and shorts. Technically speaking, this price level has already reached the end of its rope. Those considering chasing the highs should think twice about the risks involved.