Pepe - On the Verge of a Breakout
This is an update to our previous post:
After confirming our previous ATH as a new bottom PEPE has move up nicely. We have formed two patterns that could signal a massive breakout is coming.
The first pattern is the dotted purple line. This was a downwards sloping parallel channel that has already played out. We had the breakout followed by a perfect retest. This should signal continuation higher.
Although that pattern is in a much larger pattern. We see some sort of triangular flag pattern forming (black trendlines). If PEPE breaks to the upside, it will be very easy for it to create a new all time high. If PEPE breaks to the downside it will retest the low again.
This is a more bullish pattern so the breakout is more likely than the breakdown.
After confirming our previous ATH as a new bottom PEPE has move up nicely. We have formed two patterns that could signal a massive breakout is coming.
The first pattern is the dotted purple line. This was a downwards sloping parallel channel that has already played out. We had the breakout followed by a perfect retest. This should signal continuation higher.
Although that pattern is in a much larger pattern. We see some sort of triangular flag pattern forming (black trendlines). If PEPE breaks to the upside, it will be very easy for it to create a new all time high. If PEPE breaks to the downside it will retest the low again.
This is a more bullish pattern so the breakout is more likely than the breakdown.
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