we have to talk about Pepe coin because it pumped massively yesterday and I called it out before it happened. But what is next for Pepe coin is going back down again.
It’s crashed very quickly after yesterday’s pump and we are forming lower highs right now, and we’re coming back to this key level, that we’ve been talking about for over a week in this blog. I’m going to be showing you my realistic thoughts of where Pepe Quinn is likely headed in the immediate short term.
So let’s get into the blog. Look at this Pepe coin, guess what it pumped yesterday very big and then it’s coming back down and what we are also seeing is that the two previous pumps prior to yesterday’s pumps they’reforming what is known as lower highs.
That is bearish Market structure, and we are now approaching this key support level. So if Pepe coin breaks under it and holds under this support level, we will likely test this next support level, which is going to be about five zeros (1044).
So from our current level to that level we’re looking at approximately a34 move to the downside pretty realistic. If we break this support level hold under it then we will likely see that move so that’s kind of my thoughts right now.
We could bounce up at any time, because there’s a lot of crazy volatility with that ceiling and crypto news and it’s pumping and dumping the stock market. Who knows, what the news and the data is going to be this week.
It’s going to be very volatile again and it’s going to shake up the markets and maybe we’ll push cryptos up or down. But pepe coin really completely honest with you depends on Ethereum it depends on bitcoin and how those are moving and to be completely honest with you again it looks like Bitcoin and Ethereum they are consolidating.
So we are either it’s a make or break moment for cryptocurrencies. We are either going to break down and crash massively or we’re going to pump up and and pump massively that’s kind of like the only two things that can happen.
Because we’ve already been trading sideways for a long time. Now after these huge pumps for cryptos this year am I a humble opinion, I do think cryptos are going to continue heading lower, but I can be wrong and that can change course at any moment at any time with any type of good news or data that can likely actually come out very very soon.
So that’s my thoughts on pepe coin, if you guys want to be Trading Bitcoin: I highly recommend that you trade over on bica. It is a platform that I use to long and short cryptocurrencies.
