PEPECOIN/USD & DOGE/USD
I thought there were some striking similarities between Pepecoin when compared with Dogecoin
Firstly, note the timescale difference between the two - Pepecoin is on a Daily timeframe whilst Dogecoin is on the Weekly timeframe
The initial move served as an area of support for DOGE, and you can see that price eventually wicked below the point of impulse while also printing a Higher Low. The yellow box served as an excellent area to bid Dogecoin before it rallied 500% in following months
You can also see some similarities in RSI structure (circled)
I have taken a fractal from the recent spike in Dogecoin and overlayed it on the Pepecoin chart to give a rough idea of how it might play out
I do think the yellow box will prove to be an excellent entry on Pepecoin - anywhere from $2.80 down to $2.30, with an invalidation below $2.11
If a 500% were to follow it would put Pepecoin around $14 by EOY
Firstly, note the timescale difference between the two - Pepecoin is on a Daily timeframe whilst Dogecoin is on the Weekly timeframe
The initial move served as an area of support for DOGE, and you can see that price eventually wicked below the point of impulse while also printing a Higher Low. The yellow box served as an excellent area to bid Dogecoin before it rallied 500% in following months
You can also see some similarities in RSI structure (circled)
I have taken a fractal from the recent spike in Dogecoin and overlayed it on the Pepecoin chart to give a rough idea of how it might play out
I do think the yellow box will prove to be an excellent entry on Pepecoin - anywhere from $2.80 down to $2.30, with an invalidation below $2.11
If a 500% were to follow it would put Pepecoin around $14 by EOY
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