PEPE / TetherUSUpdated PEPE Update after selloff (4h)
PEPEUSDT just had a flush, as all other cryptos had (and stocks). since my last setup isn't really feasible anymore, I've expanded it to the current situation. We can see the following:
- it found support at the lower end of the channel at 1440 and bouched up (so far).
- if that holds, it would need to attemt a push out of the channel, which coinsides with different important levels:
* first the Value Area Low at 1800
* then the 50% fib, which is also the POC
* then the golden pocket and possibly finding support at the trendline again (or any other forming trendline currently not seen
so basically next targets to break in order: VAL, channel high, 50% fib, golden pocket.
ofc, currently it could potentially be the case, since there is a lot of uncertainty in the market, that we see a couple of days of consollidation, but we'll see.
Trade active
Value Area Low at 1800 successfully broken
touched the 50% fib/POC and found resistance but attempts higher in an upwards sloping support with level resistance which indicates an imminent break above the 50% soon as well.
next target then is 2325 (roughly) as the golden pocket and possible resistance (bounced a few times from it)
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