This is something I shared last year for PEPEUSDT. The price had hit monthly resistance MS1 and bounced from there towards weekly resistance WR1.
The current price action says it is in pullback mode of the current move up that we experienced for a few weeks.
I think the price will continue this pullback towards weekly support WS1 where the price will bounce. However, we have be watchful if the price attempts again at WR1 and succeeds before reaching to WR1.
If the price, hits WR1, a long is a very high probability trade and I will share a long setup there.
The current price action says it is in pullback mode of the current move up that we experienced for a few weeks.
I think the price will continue this pullback towards weekly support WS1 where the price will bounce. However, we have be watchful if the price attempts again at WR1 and succeeds before reaching to WR1.
If the price, hits WR1, a long is a very high probability trade and I will share a long setup there.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.