Start of Volume Profile (and Speed Fan). Speed Fan start to highest high, with support on 0.75.
Thing to note is take a Fib from the Value Area High down to the value area low. See how 0.5 is respected after RECOVERY from POC into resistance 0.618.
Personal observation.
Thing to note is take a Fib from the Value Area High down to the value area low. See how 0.5 is respected after RECOVERY from POC into resistance 0.618.
Personal observation.
Trade active
Buy the way and sorry havent depicted this properly. 0.26 is a very high probable support! Fib Extension which requires 3 pull points. White dashed line starting at the highest high 0. Low then lowest high. 1.0 which matches 0.236! Trade closed: target reached
Further confluence as possible downside is the rejection from the 0.618!Note
Anchored VWAP 31 Jan 13:00 clear the resistance! Note
Having said that! I prefer an opening low than high! I prefer opening lowere than the daily. Personal preference. Dump and pump vs pump and dump mentality. Note
Summary: Yes we can go lower, looking for 0.236 as a lowest low support. Based on the Ascending Triangle pattern there is strength in the market to counter lower. As seen here: 
An opening price below the daily for the interim in my opinion is a good thing, because I personally favour down side before seeing a price to the upside. Given the current market sentiment and structure.
Will Pepe out perform BTC. At the moment I think probably yes. One of the reasons why I think Pepe was oversold initially. Trade and learn from your mistakes.
Note
Invalidated. Update here: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.