Last night I wrote that $PEPE needed to get through 0.0000050 to mean anything. well it did, and then it showed why that level is annoying lol
Broke it this morning, then one big hourly this afternoon spiked to 0.00000533 on the heaviest volume in about a week. Sold off almost right away. Now it's sitting back around 0.00000506, basically right on top of the old lid.
So for me this is the whole trade now. If 0.0000050 holds as a floor that spike was just a first look, and getting back over 0.0000052 puts 0.0000053 and the Oct 29 area near 0.0000055 back on the table.
Hourly close under 0.0000049 though and it's a fake breakout, 0.0000048 comes back fast.
Broke it this morning, then one big hourly this afternoon spiked to 0.00000533 on the heaviest volume in about a week. Sold off almost right away. Now it's sitting back around 0.00000506, basically right on top of the old lid.
So for me this is the whole trade now. If 0.0000050 holds as a floor that spike was just a first look, and getting back over 0.0000052 puts 0.0000053 and the Oct 29 area near 0.0000055 back on the table.
Hourly close under 0.0000049 though and it's a fake breakout, 0.0000048 comes back fast.
