🚀 1000PEPE Long Setup in Focus 📈
Trading Plan:
Bias: Long
Entry: 0.00390 - 0.00405
SL: 0.00375
TP1–TP3: 0.00450 / 0.00490 / 0.00600
Technical Analysis:
The asset is exhibiting signs of bottoming out on the daily timeframe after a prolonged downtrend. Price is currently consolidating within a tight range, suggesting a potential accumulation phase near the key support level of 0.00390. A bullish divergence is forming on the RSI and MACD indicators, with both showing higher lows while the price has remained flat or made slightly lower lows, indicating weakening bearish momentum. The Bollinger Bands are squeezing, which often precedes a period of high volatility. A breakout to the upside is anticipated, with confirmation signaled by a decisive daily close above the middle Bollinger Band (approximately 0.00446).
Invalidation:
Only a break below 0.00375 would invalidate this bullish setup.
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