PEPE LONG
PEPEUSDT Invalid if it breaks below the Aug 5th capitulation.
Same playbook as the past two previous times it got sold off.
Bears are noise. Chart says all. Good RR, good probabilities, easily manageable risk, and can accept both outcomes. Ignoring the chop and remaining patient.
A large swing in one direction is followed by an opposite swing back. That is how markets play ball.
Lots of liquidity resting above after taking out liquidity below.
Has come into the golden zone and is currently sitting above the .5 level on 4H.
Similar amount of time spent distributing at the top as it has been accumulating down here at the bottom.
Once it breaks out it should be rapid as there is not a lot of volume done in between these ranges. I am expecting a push back into the previous sell off level.
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