I opened a short position on $PEPE after noticing BTC was declining. Analyzing the 4-hour timeframe, I drew Fibonacci levels and entered my trade at 0.0000106. I closed half of my position at 0.0000097 and exited the remaining half between 0.0000085 and 0.0000088.
If my direction doesn't pan out, I'll exit at break-even. I'll consider buying PEPE again if it breaks through 0.0000109.
Recent market fluctuations have made my strategy a bit messy, so adjustments may be necessary.
Other potential trades I'm monitoring include:
- Opening a long position on PEPE if it rebounds from the 0.000008 support level.
- Shorting PEPE already as it fails to break 0.000011, with targets at 0.000009 and 0.000008.
- Buying PEPE once resistance will break to 0.0000109, aiming for 0.000014.
