Breaking above the previous high takes 30% momentum and 70% willingness from those ahead to get out of the way.
$PEPE 1h broke out with the trend and closed above the previous high at 0.0041309, up 6.39% over 24 hours. Sounds encouraging, but look up and a bearish order block at 0.00412–0.0041584 is bearing down from above. The price surged, but not many sellers moved aside. It’s like the Qin army before the Battle of Fei River, boasting that they could stop the river’s flow with their whips—huge on bravado, but once they crossed, they fell into disarray themselves. There’s volume, sure, but whether the move can last depends on what comes next. The uptrend is still intact, but after the breakout, price is catching its breath right against resistance. How long can it hold that breath? Hard to say.
They planted the flag of a successful river crossing too soon, only to discover at retreat that the boats were still on the other bank.
$PEPE 1h broke out with the trend and closed above the previous high at 0.0041309, up 6.39% over 24 hours. Sounds encouraging, but look up and a bearish order block at 0.00412–0.0041584 is bearing down from above. The price surged, but not many sellers moved aside. It’s like the Qin army before the Battle of Fei River, boasting that they could stop the river’s flow with their whips—huge on bravado, but once they crossed, they fell into disarray themselves. There’s volume, sure, but whether the move can last depends on what comes next. The uptrend is still intact, but after the breakout, price is catching its breath right against resistance. How long can it hold that breath? Hard to say.
They planted the flag of a successful river crossing too soon, only to discover at retreat that the boats were still on the other bank.