DESCENDING TRIANGLE $PEPEUSDT -50% drop
Hello crypto fam! I hope everyone is having not only a wonderful but also profitable day trading. Make sure to smash that LIKE and FOLLOW!
Is
PEPE in a Descending Triangle?
Yes i believePEPE is in a large BEARISH DESCENDING TRIANGLE that has the potential to dump PEPE -50%.
What is a descending triangle?
In Descending Triangle Chart Patterns there is a string of lower highs. This pattern is formed with a trend line that is sloping and a flat or a horizontal support line at the bottom. The pattern emerges as a price bounces off the support level at least twice.
How accurate is trading a descending triangle pattern?
Glad you asked, a descending triangle is a powerful technical analysis pattern with a predictive accuracy of 87%.
Conclusion
Well as i have illustrated in the chart above and described in the description box i believe we are in a descending triangle. Everything in the market seems to make sense forPEPE to see a massive sell off along with 
ETH and BTC. Expect to see MAJOR bounce around $0.0000003700's level which is where i will be LONGING PEPE. As far as a timeframe on how long it may be until we see a break down is hard to predict. The PEPE breakdown will likely be ignited by ETH and 
BTC sell offs. A way to measure this would be once eth breaks $1,600 its likely that PEPE will follow suit and dump alongside BTC and other major altcoins.
Thanks, LiquidMEX
Is
PEPE in a Descending Triangle? Yes i believe
PEPE is in a large BEARISH DESCENDING TRIANGLE that has the potential to dump PEPE -50%.What is a descending triangle?
In Descending Triangle Chart Patterns there is a string of lower highs. This pattern is formed with a trend line that is sloping and a flat or a horizontal support line at the bottom. The pattern emerges as a price bounces off the support level at least twice.
How accurate is trading a descending triangle pattern?
Glad you asked, a descending triangle is a powerful technical analysis pattern with a predictive accuracy of 87%.
Conclusion
Well as i have illustrated in the chart above and described in the description box i believe we are in a descending triangle. Everything in the market seems to make sense for
PEPE to see a massive sell off along with ETH and BTC. Expect to see MAJOR bounce around $0.0000003700's level which is where i will be LONGING PEPE. As far as a timeframe on how long it may be until we see a break down is hard to predict. The PEPE breakdown will likely be ignited by ETH and BTC sell offs. A way to measure this would be once eth breaks $1,600 its likely that PEPE will follow suit and dump alongside BTC and other major altcoins.Thanks, LiquidMEX
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.