$PEPE short term trading planFollowing 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 CRYPTOCAP:PEPE 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:
- CRYPTOCAP:PEPE is a new coin, making it difficult to chart due to its limited history.
- CRYPTOCAP:BTC can significantly impact this strategy. CRYPTOCAP:PEPE , like other altcoins, is very sensitive to CRYPTOCAP:BTC 's movements.
- I am overall very bullish on CRYPTOCAP:PEPE in the long term; it is a solid coin to hold.
Here are my concerns:
- After a huge pump, there is usually a correction. CRYPTOCAP:BTC is not going to $100k without some hesitation, so many factors could slow down CRYPTOCAP:PEPE '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 CRYPTOCAP:PEPE for a week.
Here are the positives:
- The MACD on the weekly and daily charts is open and growing, which will push CRYPTOCAP:PEPE up compared to other coins for the next month or two.
- CRYPTOCAP:PEPE might be listed on Coinbase Spot, which would be a major catalyst for a price pump.
- CRYPTOCAP:PEPE is gaining widespread attention, and its fans are extremely active.
- CRYPTOCAP:PEPE '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.
