$PEPE #PEPE
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Bias: Moderately bearish, due to the structure of lower highs since 0.00000511.
Most likely: A bounce toward 0.00000440–448, rejection, and a drop toward 0.00000412 and then 0.00000400.
Invalidation: 1H close above 0.00000448.
Levels: 0.00000448, 0.00000440, 0.00000421 (24h low), 0.00000412, and 0.00000400.
R/R: From 0.00000428 (stop at 0.00000448), it's ~1.4:1, not very attractive. From the supply zone (~0.00000440, stop at 0.00000448), it would be ~5:1. I'd wait for the bounce and a rejection candle with volume before acting.
🫡
Don't forget to leave a small tip and follow me so you don't miss any technical analysis at 100%.
Bias: Moderately bearish, due to the structure of lower highs since 0.00000511.
Most likely: A bounce toward 0.00000440–448, rejection, and a drop toward 0.00000412 and then 0.00000400.
Invalidation: 1H close above 0.00000448.
Levels: 0.00000448, 0.00000440, 0.00000421 (24h low), 0.00000412, and 0.00000400.
R/R: From 0.00000428 (stop at 0.00000448), it's ~1.4:1, not very attractive. From the supply zone (~0.00000440, stop at 0.00000448), it would be ~5:1. I'd wait for the bounce and a rejection candle with volume before acting.
