Analyzing 1000PEPE/USDT on a 1H timeframe

Hello guys,
It's another to analyze a crypto token and today I would like to analyze the 1000PEPE/USDT pair. I'm using the same strategy in all of my analyses i.e. the support and the resistance strategy or the trendline strategy.

It is important to mention here that not all the time that I get perfect results on my strategy but in most cases the results are fruitful. Without further ado I guess we need to hurriedly look at the chart.

From the chart above, you can see that the support level has been broken and the price of the asset is moving in a downward direction. Normally when a support level is broken, we look for a sell signal and that is exactly what I waited for.

I waited for the 1H candle to close perfectly before introducing the sell logi as you can see from the screenshot below. The market gave us a clear direction with the closure of the 1H candle.

In placing the sale logo, I decided to take a little risk with much profit as seen in the screenshot below. The risk-reward ratio taken for that trade is around 1:20.. If the market moves in my predicted direction then I should be able to make a very high profit from the trade.

So, therefore, I wanted the candle to flip bearish after the closure of the 1H candle to demo trade the set up but it came out bullish which meant I needed to wait for the market again and see how far the direction would go.

This is the simple way I use to analyze the crypto market and in most cases I get luck and the market moves in my direction. At the moment I'm still learning and I hope with time I will improve my analysis to a perfect one such that the market will always respect my strategy.

See you all again in my next publication. Always remember that trading is like a meditation, patience is the key. Don't always go to the market, allow the market to always come to you and in that way, you will be a successful trader.

Disclaimer: ^{This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your research and consult a financial advisor.}