Recently I made an analysis on PEPE and the potential inverse head & shoulders formation that was forming. As of now, the price has reached the yellow area, which would be the ideal point to form the right shoulder.
With an RSI hitting oversold levels, it's a now-or-never moment for PEPE. If we can make a move above 160 in the next couple of hours, the inverse head & shoulders in play. If we fall further, the probability for this pattern to play out will decrease.
Patient traders will wait for the price to break through the neckline. Aggressive traders will scale in around the current area.
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And there's the pump we waited for. Big move from the indicated yellow reversal area. Head & shoulders reversal almost confirmed!
Hey there! Good article! Also you can read our article about PEPE:
elhambaseri1372
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Pre flop and you got aces what will u do?that's the Whales 🐋 right now I think we've got to make it look like a bluff so we can have more people involved so pump is for sure
LegionQ8
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thank you so much for hard work, we appreciate it
SwallowPremium
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Thanks for publishing. Good job!!
theothermurph511
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Thank you for your analysis. I think last night's little drop added definition to the right shoulder. But, in your opinion, how much lower is too low before this pattern is invalidated?