$1000PEPE · Perpetual, intraday watch
I’m not considering chasing this move for now. The price is still below the recent moving averages, so I’d wait for it to reclaim them before going long. A lower price doesn’t mean it has stabilized; jumping in too soon could mean mistaking a brief rebound for a trend reversal.
Trading volume is also below its recent average, so it’s still unclear how much momentum an upward move would have. I’d consider going long once the price holds steady and volume picks up. Until then, I’ll be patient.
Here’s what I’ll wait for:
A 15-minute candle closes above 0.0039677, then the price retests and holds that level before I consider going long. The breakout candle’s volume ratio must also exceed 1.2.
Assuming an entry near 0.0039677, the stop-loss is 0.00392598, with an initial target of 0.00405114.
I’m not considering chasing this move for now. The price is still below the recent moving averages, so I’d wait for it to reclaim them before going long. A lower price doesn’t mean it has stabilized; jumping in too soon could mean mistaking a brief rebound for a trend reversal.
Trading volume is also below its recent average, so it’s still unclear how much momentum an upward move would have. I’d consider going long once the price holds steady and volume picks up. Until then, I’ll be patient.
Here’s what I’ll wait for:
A 15-minute candle closes above 0.0039677, then the price retests and holds that level before I consider going long. The breakout candle’s volume ratio must also exceed 1.2.
Assuming an entry near 0.0039677, the stop-loss is 0.00392598, with an initial target of 0.00405114.