#meme板块关注热点
Interest rate cuts are imminent, will DOGE, Pepe, and WIF lead the rebound?
Recently, memes have been quiet as everyone's attention is focused on Bitcoin.
Is it time for memes to rebound?
On the daily chart, DOGE is in an upward channel. It just touched the bottom of the channel and is currently at a good level of support. If it does rebound from here, the top of the channel will be around 0.50. Breaking above the top of the channel and confirming above may lead to fluctuations around 0.60, depending on where the breakout occurs.
On the other hand, if it breaks below the bottom of the channel and sets a lower low, the upward trend will be negated and it will return to the starting point. That said, the likelihood of trend continuation seems greater.
For the past nine days, PEPE has been in a local downtrend, almost falling back to retest the top of the bull flag. It has also retested the 0.618 Fibonacci level and could fall back to retest the bull flag trendline and the 0.786 Fibonacci level.
Since the main trend is still very upward, it is expected that the price will not drop back into the bull flag, although if it breaks below, a price drop below 0.00001730 would create a lower low. That said, this level is strong support.
WIF does seem ready to rebound. It has fallen to the deepest Fibonacci level of this trend at 0.786, which is also a very strong level of support. If the price does break out, the upward trendline and the descending trendline of the historical high will provide good support.
In summary, the three mentioned memes appear to be ready for a rebound. As always, it largely depends on Bitcoin. From the current situation, Bitcoin will either rise or remain relatively stable for a while, with a low probability of a significant pullback.
If anyone is confused by market fluctuations and doesn't know how to handle being stuck, or feels misled during the trading process, feel free to communicate!
I am Old Li.
