Long

$PEPE short term trading plan

Updated

Following my previous long term trading plan and after we hit all the target, I am publishing a short-term plan. It is clear that trading from here will not be a straight line to the moon, so let's prepare to buy and sell when necessary.

Bear in mind that:
- is a new coin, making it difficult to chart due to its limited history.
- can significantly impact this strategy. , like other altcoins, is very sensitive to 's movements.
- I am overall very bullish on in the long term; it is a solid coin to hold.

Here are my concerns:
- After a huge pump, there is usually a correction. is not going to 100k without some hesitation, so many factors could slow down 's momentum.
- There is a solid resistance area between 1076 and 1176. We can and will likely be rejected from here.
- The Stochastic RSI on the daily chart is showing signs of a crossover, which could negatively impact for a week.

Here are the positives:
- The MACD on the weekly and daily charts is open and growing, which will push up compared to other coins for the next month or two.
- might be listed on Coinbase Spot, which would be a major catalyst for a price pump.
- is gaining widespread attention, and its fans are extremely active.
- 's trading volume is higher than Ethereum's, attracting a large number of whale traders.

I see 2 scenarios. They are labelled 1) and 2) on the chart!

This is an opinion, not a financial advice, I might be wrong, so DYOR. Do not use leverage.

Note

It was fast. down at Fib 0.236 which is very important to hold. It is also the confluence with the support trendline. If we pass through, we are dumping to Fib 0.382. I hope that you followed my previous trading plan and sold at my TP around 1150. If so, you are like me with cash waiting to buy the dip.

Note

has found a support above 1000, in a channel between 988 and 1040. This is a good support that is confirming the 1) scenario, the most positive. Everything goes like planed.
Once and will stop trending, the meme coins will catch up with +20%. Be patient.

Note

Well, is doing exactly what was planned. It has hit my resistance trendline multiple times with incredible precision, been rejected by the resistance area, and is now at a resistance level on the 0.236 Fibonacci retracement, which acts as support now. 1000 seems to be solid.

Now, it is a critical time where two scenarios can play out:

We get a pump above the resistance area.
In the worst case, we go down further and find new support.
But the goal stays the same. Everything is playing out according to the plan.

Note

just lost -6% because got -0.5%

This is a pretty bad sign. How a coin with no whales holder can bleed like this?
or did -0.5% and are progressing with BTC. seems to be controlled. Who are pumping it and dumping it in such un-logical way? Like CRYPTOCAP:MATIC for instance?

is dumped by whales. Something to take in consideration. Too much leveraged short liquidated? Someone has to explain me why is acting like a manipulated coin.

If you have a logical explanation I am interested to know.

Note

So has dropped to the Support Trendline. We need to hold this level or will be a major bleeding. It should bounce from here. The scenario 1) is invalidated.

Hopefully the puke has ended. About 1% of the total supply of has been sold in 1h on Binance only. That is concerning. There was no major catalyst to that event. Also all day I could see big candle of 500M of sold at regular interval, like when market-makers are dumping. Something was brewing for sure.

Total for the day that is more than 2T of sold? Jezzz

We can hope that part of the millions generated by this sale will be reinjected in a (fake) pump when the whale will decide.

Note

As a side note CRYPTOCAP:WIF got the same treatment, same way: -11% for no reason. Exit liquidity apparently.

Note

After this "take profit" event, found a support on my support trendline at $0.00000917. This is a good sign that showing that things are going according to the plan.

However what will the fog do next? Try to catch a frog!!!
MACD 15m and 1H are showing a bottom with a crossover, which is usually an uptrend sign.

It depends on the whales bears, are they over taking their profits from the previous pump? We will see in the coming hours.

Note

Alt Market crashing globally, sadly. Apparently people are flipping their altcoins to to get the pump to 71k. Nothing can be done. Only waiting that the bleed stops.

Note

TP reached. performed amazingly. It is a solid coin with a lot of liquidity and volume. This is attracting the day traders who have big bags, and you can buy at market price without slippage.
replaced in the top best volume. It is a great coin to day trade.
Now be careful, there is an address that owns +250 Trillions of
PEPE , and this address is the ones who is dumping and wrecking the coin regularly.
I would not hold this coin, I would buy it after a pull back and ride it, then sell at the top.
Losing -30% in a retracement is not in my trade strategy.

This idea is closed, it played out perfectly and with a good precision. Follow me for more.

Note

Just be careful with this coin. It is very centralized and controlled by Binance. Not what people say online. So ride the wave up, then sell at the top and move to something else. At one point it will crash and all the gains you made will be gone.

Note

Check this new idea:

$PEPE WARNING! Trade analysis and (c) infringement liability

Trade closed: target reached

CryptoNikkoid

Also on:

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.