PEPE accumulation scenario - an update

16 de jul. de 2023

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!

16 de jul. de 2023

Nota

I'll look for a LONG setup around the supports and the deviation area (marked in yellow)

17 de jul. de 2023

Nota

My first buy is here at $0.155
Second price: $0.144
Last entry: $0.137

21 de jul. de 2023

Nota

Prices are at support zone (lower trendline of the current range). It's possible that deviation could happen.

23 de jul. de 2023

Nota

It's about time?
Attention that false break-down is possible.

24 de jul. de 2023

Nota

PEPE drops along with BTC
Two limit orders $0.144 and $0.137 were filled.
I'll consider to go out if today closes below $0.136.

24 de jul. de 2023

Nota

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 trade

25 de jul. de 2023

Trade fechado manualmente

The plan is no longer valid. I stepped out of this trade.
PEPE is not strong enough to resist to BTC's weakness.