As the Bitcoin bull market nears completion in preparation for the 2 year bear market, influencers continue to gaslight their audience on wonderful “alt token season” that never came.
Officially there has not been an alt token season. Technically speaking it is impossible for one to now exist in the normal scheme of things if the 4 year market cycle theory is to be maintained. The OTHERS market total clearly informs us the market is exiting the cycle without an alt season during this Bitcoin bull market. Animal spirts must be set to 'Max' if the bulls are going to ignore this information.
As you study various monthly charts you’ll notice there’s a lot of pain about to be delivered bullish market participants who ignore charts. The PEPE token is one such example.
On the above weekly chart you will see:
1. Broken market structure
2. A trend reversal, higher lows higher highs are now replaced with lower lows higher lows.
3. Past support confirms resistance.
4. The 2 month chart below prints a “Gravestone DOJI” candle. Please don’t ignore this, it is a candle that has the power to push price action right down to the basement.
Hope on over to recent Tradingview ideas and you’ll see the majority are ignoring those facts. Incredible isn’t it? Remember over 90% of traders will fail to make a profit. Don't be the 90%.
tradingview.com/symbols/PEPEUSDT/ideas/?sort=recent
Moreover many are forecasting eye catching targets.
Is it possible price action climbs to the stars as many are calling for? Absolutely.
Is it probable? no!
Ww
2 month chart
Officially there has not been an alt token season. Technically speaking it is impossible for one to now exist in the normal scheme of things if the 4 year market cycle theory is to be maintained. The OTHERS market total clearly informs us the market is exiting the cycle without an alt season during this Bitcoin bull market. Animal spirts must be set to 'Max' if the bulls are going to ignore this information.
As you study various monthly charts you’ll notice there’s a lot of pain about to be delivered bullish market participants who ignore charts. The PEPE token is one such example.
On the above weekly chart you will see:
1. Broken market structure
2. A trend reversal, higher lows higher highs are now replaced with lower lows higher lows.
3. Past support confirms resistance.
4. The 2 month chart below prints a “Gravestone DOJI” candle. Please don’t ignore this, it is a candle that has the power to push price action right down to the basement.
Hope on over to recent Tradingview ideas and you’ll see the majority are ignoring those facts. Incredible isn’t it? Remember over 90% of traders will fail to make a profit. Don't be the 90%.
tradingview.com/symbols/PEPEUSDT/ideas/?sort=recent
Moreover many are forecasting eye catching targets.
Is it possible price action climbs to the stars as many are calling for? Absolutely.
Is it probable? no!
Ww
2 month chart
Trade attivo
Don't get me wrong, there are some tokens that will recover from the recent collapse. However PEPE is not one of them... a further 70% correction is imminent. The BTC pair of this token has broken the next level of market structure, following the first that was observed on publication.
3 day chart
3 day dollar chart. - head and shoulder / or as I see it, the middle finger.
Nota
Down 50% so far... another 30% to go.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.