PEPE: Bullish Outlook with Consistent Trend Line Support 📈Current Market Context:
PEPE’s price action is showing strength with consistent support on a rising trend line. The recent follow-through by the bulls indicates potential for further upside. However, given external market risks, this trade will be executed with low leverage.
Trade Strategy:
Entry: Initiate a trade at the current market price.
Take Profit: Set multiple take profit targets to lock in gains at different stages:
First Target: $0.0112
Second Target: $0.012
Third Target: $0.016
Stop Loss: Place the stop loss just below the blue support line, which aligns with the rising trend line. Specifically, close the trade if PEPE closes below this level.
Rationale:
Technical Analysis: The consistent taps on the rising trend line and bullish follow-through suggest strong support and potential for continued upward movement.
Risk Management: Given the external market risks this week, the trade will be conducted with low leverage, and the stop loss is strategically placed to minimize potential losses.
