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Is
PEPE
in a Descending Triangle?
Yes i believe
PEPE
is in a large BEARISH DESCENDING TRIANGLE that has the potential to dump
PEPE
-50%.
What is a descending triangle?
In Descending Triangle Chart Patterns there is a string of lower highs. This pattern is formed with a trend line that is sloping and a flat or a horizontal support line at the bottom. The pattern emerges as a price bounces off the support level at least twice.
How accurate is trading a descending triangle pattern?
Glad you asked, a descending triangle is a powerful technical analysis pattern with a predictive accuracy of 87%.
Conclusion
Well as i have illustrated in the chart above and described in the description box i believe we are in a descending triangle. Everything in the market seems to make sense for
PEPE
to see a massive sell off along with
ETH
and $BTC. Expect to see MAJOR bounce around $0.0000003700's level which is where i will be LONGING $PEPE. As far as a timeframe on how long it may be until we see a break down is hard to predict. The
PEPE
breakdown will likely be ignited by
ETH
and
BTC
sell offs. A way to measure this would be once eth breaks $1,600 its likely that
PEPE
will follow suit and dump alongside
BTC
and other major altcoins.
Thanks, LiquidMEX
Is
PEPE
in a Descending Triangle? Yes i believe
PEPE
is in a large BEARISH DESCENDING TRIANGLE that has the potential to dump
PEPE
-50%. What is a descending triangle?
In Descending Triangle Chart Patterns there is a string of lower highs. This pattern is formed with a trend line that is sloping and a flat or a horizontal support line at the bottom. The pattern emerges as a price bounces off the support level at least twice.
How accurate is trading a descending triangle pattern?
Glad you asked, a descending triangle is a powerful technical analysis pattern with a predictive accuracy of 87%.
Conclusion
Well as i have illustrated in the chart above and described in the description box i believe we are in a descending triangle. Everything in the market seems to make sense for
PEPE
to see a massive sell off along with
ETH
and $BTC. Expect to see MAJOR bounce around $0.0000003700's level which is where i will be LONGING $PEPE. As far as a timeframe on how long it may be until we see a break down is hard to predict. The
PEPE
breakdown will likely be ignited by
ETH
and
BTC
sell offs. A way to measure this would be once eth breaks $1,600 its likely that
PEPE
will follow suit and dump alongside
BTC
and other major altcoins. Thanks, LiquidMEX
