PEPE’s Next Move: Anticipating a Correction Amidst Overvaluation
In the wake of the recent rally in 
BTCUSDT, 
1000PEPEUSDT.P has followed suit, joining the upward momentum and achieving fresh higher highs. Looking at historical patterns, it's plausible that we could witness a 10% retracement in the coming days, as corrections have been common following similar surges. Furthermore, we’ve been tracking a month-long upward trend where strategic pullbacks have consistently set the stage for new highs, reinforcing the potential for a short-term decline.
The current price action appears somewhat inflated, especially when considering key indicators such as the EMA200 and Bollinger Bands, both of which suggest overvaluation at this stage. With these confluences in mind, I foresee a potential move towards filling the imbalance that has been left behind by recent price spikes.
For this setup, I have identified two target profit zones:
TP1: 0.0100676
TP2: 0.0096963
To manage risk, the stop-loss is placed at 0.0112460, allowing for a balanced approach that accounts for market volatility while still capturing potential downside movement.
BTCUSDT, 1000PEPEUSDT.P has followed suit, joining the upward momentum and achieving fresh higher highs. Looking at historical patterns, it's plausible that we could witness a 10% retracement in the coming days, as corrections have been common following similar surges. Furthermore, we’ve been tracking a month-long upward trend where strategic pullbacks have consistently set the stage for new highs, reinforcing the potential for a short-term decline.The current price action appears somewhat inflated, especially when considering key indicators such as the EMA200 and Bollinger Bands, both of which suggest overvaluation at this stage. With these confluences in mind, I foresee a potential move towards filling the imbalance that has been left behind by recent price spikes.
For this setup, I have identified two target profit zones:
TP1: 0.0100676
TP2: 0.0096963
To manage risk, the stop-loss is placed at 0.0112460, allowing for a balanced approach that accounts for market volatility while still capturing potential downside movement.
İşlem aktif
Trade open. 1% risk, 20x leverage. Entry: 0.0107700Not
TP1 HitNot
Moving SL to entry.İşlem kapandı: hedefe ulaştı
Price hit SL on entry. 6.6% gain!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.