Why I am bullish on #PEPE ⁉️
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- $PEPE has potential despite being bearish on higher time frames
- It has been one of the strongest performers in the last day or so
🪷 Resistance Levels:
- PEPE faces several resistance levels, including:
- 13,200
- Trend line around 13,800
- 14,200
🪷 Momentum and Open Interest:
- PEPE is gaining momentum on lower time frames
- Open interest has started to pile in since yesterday morning
- Spot CVD is positive, indicating positions are being opened on PEPE
🪷 Volatility and Bitcoin's Impact:
- Today's big news (inflation rate, CPI, interest rates) could bring volatility
- If Bitcoin gets a bullish breakout, meme coins like PEPE will rally regardless of resistance
- Bitcoin's performance will heavily influence PEPE's movement
🪷 Short-term vs. Long-term Outlook:
- Short-term bullish momentum is possible, but a bigger rally requires a very bullish Bitcoin
- To break above 14,200, PEPE needs a very bullish Bitcoin that breaks back above $68,000.
