$PEPE Finally The BREAKOUT Launches 🚀
After a little halt, the double bottom gets justified as Pepe breaks through the barrier of the key price of $0.00001 📈
📊As I mentioned in my previous analysis, a double bottom pattern always hints towards a possible upside reversal (vice versa in case of double top). That makes the support strong enough to push the price upwards and provides stability at higher levels. A momentum breakout can be seen during such scenarios with a big candle.
📌 But as the theory goes it doesn't mean that the conclusion will come into effect immediately. So expecting an easy and smooth breakout is definitely not in the equation. Here, we saw the price getting rejected from the resistance of $0.00001 after the formation of double bottom. It took support at $0.00000850 and took off again. So, the market has it's own ways to move. We don't always see what we expect.
📌 Also I mentioned that after $0.00001 becomes the support there could be a retest and then the reversal will continue. So ideally this part is due and must occur to further strengthen this price level as a strong support. The lower support levels are shown in dotted lines and the supply/resistance zone in the box which marks $0.000009-0.00001
On the upside $0.000011 and $0.000012 will be the nearest roadblocks towards Pepe's journey. If the closing on the daily time is near $0.000011 or well above $0.00001, then a potential rally could be on it's way.
