We need to consider the market situation next door, because I personally tend to rebound short, so I would recommend the entry point of PEPE to be in the 890 area. If you enter the market in the 1130 area, you can hold it first, because the previous 8h K closed quite well, and the bulls have the intention to rebound.
However, if it falls below the support, I personally recommend leaving the market and waiting for the price to fall to the 890 area before considering entering the market.
The downward trend is high and short. The current price is supported and rebounded in the 3435 area mentioned yesterday. So now focus on the 3660 area as the entry point for short orders.
The lower target is still TP1: 3435 area, TP2: 3215 area.
Yesterday, I mentioned that the 66200 area is the boundary between long and short positions. Players who want to go long can enter the market after the rebound.
After falling to 66251 last night, it rebounded, but at present, the rebound strength is much lower than ETH. For now, I will wait and see. I personally prefer to break the support because it is really weak.
Of course, now is not the time to go short, because the price has not fallen below the 66200 area, the boundary between long and short positions. If it falls below it later, you can follow the downward targets I mentioned yesterday, TP1: 63300 area, TP2: 60600 area.
Since the market situation changes from time to time, my daily market analysis tweets are mainly based on the latest tweets
From the current market, the 66200 area is the boundary between long and short positions. Although it has not been broken, a lower high has appeared in the short-term structure.
Then the main focus is whether the price can fall below the 66200 area, so as to form a lower low and complete the market decline structure. The falling target TP1: 63300 area, TP2: 60600 area.
For players who want to go long, it is best to wait for the price to rebound after stepping back to the 66200 area before entering the market. The target can only be placed in the 69300 area first, and an expectation of a falling box shock is made.
I haven't paid attention to what happened last night, but from the market, it is a rebound short structure.
At present, the main focus is on the expectation of the falling box, and pay attention to whether the 3435 area can produce an effective rebound and form a box shock. If it fails to rebound and continues to fall below the 3435 area, the next falling target is the 3215 area.
My personal opinion is that I prefer to go short on the rebound, but the price has already fallen from 1332 to 1130 once before, so the effect of going short on the rebound may get worse and worse.
At present, the condition for a trend reversal is that the price breaks through the 1332 resistance area and stands above it. If you consider entering the market at that time, the certainty will be higher.
RNDR can pay attention to the 6.955 area, which is a big support level. If the subsequent price can reach this level and rebound, you can enter the market.
From the perspective of 30M, in fact, before the market falls, the known expectation is to rebound and go short.
As shown in my theoretical chart on the right, the price has fallen below the original support, and the original support has become resistance. In the short term, before the price breaks through this resistance, it can only be expected to rebound. Every time the price falls to the resistance level, it is an opportunity to enter the short position.
After rebounding in the 66000 area, it was blocked in the 67225 area. I personally think this is a rebound short structure, which is a short entry point.
You can also wait for the price to fall below the 66000 area before entering the market. Although the profit and loss ratio will be worse, the certainty is strong. The personal profit stop target given here is TP1: 65000 area, TP2: 62900 area.
In the past few days, my daily market analysis tweets have only emphasized one thing——"3660 area is the dividing line between long and short positions. If it does not fall below 3660 area, hold it. If it falls below, long positions will be urgently hedged, and there will be a waterfall market."
Yesterday, the price officially fell below 3660 area, and I subsequently gave two TPs of 3530-3410. This morning, the lowest reached 3427.
Previously, there were three rebounds at 3711 that showed signs of weakness that could not break through. Oh, I won’t talk about this.
At present, my idea is to spend time and patiently wait for a bottom reversal structure to emerge, such as a double bottom, and then consider entering the market with a large position. Now I can only enter the market with a light position in batches in the support area. This is a left-side entry method, which requires the risk of further decline.
The subsequent decline target will be given after the price breaks through the previous low.
Currently, the price rebounded in the support area, and the overall structure remains in an upward trend. However, if it falls below the 0.57 area in the future, my personal suggestion is not to look at it in the short term, and it will enter a downward trend.
I issued the entry position yesterday, and the subsequent highest rebound reached 4.9, which was close to the TP1:5.05 area I gave, and the increase was about 15%.
The price has fallen below the support, and the latest support is in the 3.2 area. If it does not fall back to this area, just wait and see at other times.
The price is in the middle, and I can’t make any specific judgment at present. However, if it rebounds to the original support area, it can be expected to rebound and go short.
My friend asked me this morning, but I was out during the day and not in front of the computer. I just told my friend after reading it on my phone.
Although it has not been confirmed by the closing, it should have started to rebound. We can expect a rebound after a pullback. My target is TP1: 0.62 area, TP2: 0.67 area.