PEPE accumulation scenario - an update
I would like to update my previous analysis for PEPE (see link below).
My view does not change: a possible accumulation is on-going. Only the levels are slightly modified. It's likely that PEPE prices are evolving in an ascending channel with some deviations.
Following wyckoff accumulation schematic, in my opinion, the phase B is happening with a potential Spring (deviation of the main channel to the down-side). However this Spring event is not always needed.
What are your thoughts about PEPE and this analysis?
Have a nice week!
Note
I'll look for a LONG setup around the supports and the deviation area (marked in yellow)Note
My first buy is here at $0.155Second price: $0.144
Last entry: $0.137
Note
Prices are at support zone (lower trendline of the current range). It's possible that deviation could happen.Note
It's about time? Attention that false break-down is possible.
Note
PEPE drops along with BTCTwo limit orders $0.144 and $0.137 were filled.
I'll consider to go out if today closes below $0.136.
Note
BTC is very likely to close below the EMA 50D today. BTC's pullback is expected to happen tomorrow. I'll consider to keep or get out of this PEPE tradeTrade closed manually
The plan is no longer valid. I stepped out of this trade.PEPE is not strong enough to resist to BTC's weakness.
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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.