PepeCoin

<p>I received a couple of requests to provide some more Ichimoku analyses. I am happy to do so since Ichimoku is one of the most reliable indicator systems available. It can provide tons of insights about an asset, trade signals, and parameters for a successful trade setup.</p><p>So, let&#39;s dive into Pepe&#39;s Ichimoku state of the nation.</p><p>&#x1f4a1; Overall, the Ichimoku indicators do not support a trade setup regarding Pepe. However, there are bullish signs that could quickly change the status.</p><h3 id="bullish-crossover">Bullish Crossover</h3><p>Let&#39;s start with a bullish aspect (1): Just four days ago, the so-called Base Line (blue) crossed the Conversion Line (Gray) to the upside. This is considered a bullish sign. However, since the cross happened below the cloud, it&#39;s a rather weak bullish signal.</p><h3 id="double-resistance">Double Resistance</h3><p>Pepe is currently fighting to cross the resistance build of Span B (red line, 2) and the cloud simultaneously ( ~0.000012). A close above this level would indicate further bullish momentum, and the second is the previously mentioned crossover.</p><h3 id="bearish-signals">Bearish Signals</h3><ul><li>Let&#39;s discuss the bearish signals. The future cloud indicates a bearish forecast (red cloud, 3). Additionally, the space between the sides of the cloud is rather ample, so we can&#39;t expect a change soon.</li><li>Based on the horizontal movement of the cloud, Pepe does not have a strong trend at the moment (4). To trade the asset, you want a rising or falling cloud.</li><li>Often forgotten, yet so important. The so-called Chikou (orange line, 5) isn&#39;t &#34;free&#34; — meaning it is almost at the same level as the price candle. Again, when trading an asset, you prefer this indicator to be above/below the price.</li></ul><h3 id="x1f9f5-summarized-way-forward">&#x1f9f5; Summarized &amp; Way Forward</h3><p>Based on the missing trend and the rather bearish outlook, I would suggest trading Pepe now. To reevaluate this, we need the price to close clearly about the cloud and Span B (acting as major resistance).</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6f228cadb73d43ee854cb539db03535b.png" /><p></p>

Why I Don't Consider Trading Pepe Right Now — An Ichimoku Deep Dive Into Pepe 🔍

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Ben Walther

Altri articoli pubblicati su 23 lug 2024

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