Market & Ticker: Bitcoin - PEPE/USDT
Date: 15/05/2023
Horizon / Timing: Short-term / 1 to 8 Days
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PEPE developed a large upside move in the past 4 weeks offering opportunity in high volatility context. On short-term perspective we identified a first key support to watch at 0.0000013700 where a significant upside swing is expected to reach the first key Fibonacci resistance area at 0.0000026300.
Scenario:
As long as 0.0000013700 remains valid (Hourly close) we expected a recovery from 0.000001580 entry level towards 0.000002300 and 0,0000028400 Maximum
Technical Key Elements:
- Key moving average and RSI are flattening calling for range configuration
- Elliot wave is calling for a corrective pattern in 3 waves a,b,c = range
- Key Fibonacci resistance is defined at 0,0000026300
- Key Fibonacci support is defined at 0,0000013700
Trade Idea conclusion: Buy
| Conviction |  | | | (High) |
Target 2: 0,0000028400 (78%)
Target 1: 0,0000026300 (65%)
Buy: add in dip area 0.000001580
Stop: 0.0000013700 (-13%)
Chart: Hourly Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
