Pepe | Chart Analysis

Everything is on the chart.

Support has been tested a second time just two days ago.
This support is now a slow-moving exponential moving average.

👉 We are likely to see a break of this support based on my analysis.

My analysis goes like this:

➖ The first bullish wave was very steep and its correction ends at support.
➖ The second bullish wave is weak compared to the previous one. The same support is being tested.

➖ Since the second wave is much weaker, it is likely that support will fail next; based on short-term signals.

One thing to keep in mind are the market movers —professional traders.

They track the market, the exchanges; your orders, actions and the rest.

➖ If there is lots of selling; people becoming aware of the upcoming correction; they move to buy in order to liquidate the shorters and then SHORT themselves.

This is shown here with a curved red-line.

👉 Such moves do not change the market cycle, the general trend.

👉 PEPEUSDT is aiming lower but, remember, things can always change.

Thank you for reading.

You are appreciated.

Namaste.