1000PEPE 4h daily analysis1. Volume is showing POC
(point of control) and the price
is balancing in the range with strong
consolidation and indecision.
2. Currently we are in a range zone.
Taking swing low and swing high -
we are below 0.5 fib level, which
means we are in discounted area.
3. If price breaks POC and fib 0.5 and confirms above we can see a move to fib 1 price level. By this move
buy side liquidity wicks will be liquidated and potentially
we can see relatively equal highs.
4. If no big move you can look for long
at local fib swing at level of 0.618 where
4h imb either at 0.786 for stronger confirmation. In case support is broken, look for wicks to 1h imb below.
If price action is making strong move down, first stop might be 9089 level either below imb area with order block breaker of the move up.