$PEPE got slapped about 8% today, 1000PEPE perp down from ~0.00562 to ~0.00497, and the interesting part isn't the drop, it's who's still positioned for a bounce.
Funding is negative (~-0.024%) while the retail long/short account ratio actually climbed to ~2.5. So most accounts are still long, but the money paying funding is short. OI also slipped from ~$117M to ~$106M in the last 4h, so some of the longs already got cleaned out.
On the NanoTrading Fire chart (4h) price is pinned right between two liquidation pockets: short clusters stacked just above around 0.0050-0.0051, long clusters just under at roughly 0.0049, and a deeper band near 0.0046-0.0047. Whichever side breaks first probably gets squeezed fast.
My plan: a 4h close back above 0.0050 with funding still negative is a short squeeze setup for me. Lose 0.0049 and I expect a wick into that 0.0046 band before anything good happens. 🐸 Which side do you think gets liquidated first on $PEPE?
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, trade your own plan.
#PEPE #Memecoins #NanoTrading #CryptoTrading
Funding is negative (~-0.024%) while the retail long/short account ratio actually climbed to ~2.5. So most accounts are still long, but the money paying funding is short. OI also slipped from ~$117M to ~$106M in the last 4h, so some of the longs already got cleaned out.
On the NanoTrading Fire chart (4h) price is pinned right between two liquidation pockets: short clusters stacked just above around 0.0050-0.0051, long clusters just under at roughly 0.0049, and a deeper band near 0.0046-0.0047. Whichever side breaks first probably gets squeezed fast.
My plan: a 4h close back above 0.0050 with funding still negative is a short squeeze setup for me. Lose 0.0049 and I expect a wick into that 0.0046 band before anything good happens. 🐸 Which side do you think gets liquidated first on $PEPE?
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, trade your own plan.
#PEPE #Memecoins #NanoTrading #CryptoTrading
