Extended Correction in Cryptocurrency Market

加密貨幣市場延續調整

Amidst a market sell-off, the cryptocurrency market exhibits an extended correction trend. Bitcoin price plummeted to a low of $61,000 on Tuesday. The memecoin Pepe, inspired by the Frog-theme, experienced a significant decline of 7.3%, struggling to maintain its value above the 38.2% Fibonacci retracement level at $0.0000065.

在市場拋售的背景下，加密貨幣市場呈現持續回調的趨勢。週二，比特幣價格暴跌至 61,000 美元的低點。受青蛙主題啟發的 memecoin Pepe 經歷了 7.3% 的大幅下跌，努力將其價值維持在 38.2% 斐波那契回撤位 0.0000065 美元之上。

Bullish Pennant Pattern Emerges

看漲三角旗模式出現

Despite the market correction, analysis of the 4-hour chart indicates that the Pepe coin price is forming a bullish pennant pattern. This pattern signifies the potential for an uptrend continuation.

儘管市場出現調整，但對 4 小時圖的分析表明，佩佩幣價格正在形成看漲三角旗模式。該形態意味著上漲趨勢有可能持續。

Large-Scale Withdrawal of PEPE Tokens

PEPE代幣大規模提現

A large-scale withdrawal of 329.3 billion PEPE tokens, valued at approximately $2.46 million, from Binance within 10 hours was observed. This transaction suggests that "smart money" anticipates a potential rebound in Pepe price and a resumption of the rally.

據觀察，幣安在 10 小時內大規模撤回了 3,293 億個 PEPE 代幣，價值約 246 萬美元。這筆交易表明「聰明的錢」預計佩佩價格可能會反彈並恢復漲勢。

Technical Indicators

技術指標

• Moving Average Convergence Divergence (MACD): The MACD and Signal lines hover around the midline, indicating market uncertainty. A breakout from the pennant pattern could provide the necessary conviction for a bullish rally.
• Exponential Moving Average (EMA): The coin's price trading above the 200-day EMA slope suggests bullish sentiment in the near-term market cycle.

Potential Breakout and Rally

移動平均線趨同分歧（MACD）：MACD 和訊號線徘徊在中線附近，顯示市場存在不確定性。三角旗形態的突破可能為看漲反彈提供必要的信念。

The PEPE price is well-positioned to break the overhead trendline of the pennant pattern. This breakout would provide support for buyers to extend the recovery rally to $0.000009 and potentially to $0.0001084.

PEPE 價格處於有利位置，可以突破三角旗形態的上方趨勢線。此次突破將為買家提供支持，將復甦反彈擴大至 0.000009 美元，並可能擴大至 0.0001084 美元。

Conclusion

結論

The Pepe coin price exhibits a bullish pennant pattern, indicating the potential for an uptrend continuation. The recent large-scale withdrawal of PEPE tokens further supports this potential rebound. Technical indicators suggest market uncertainty, but a breakout from the pennant pattern could provide the necessary conviction for a bullish rally.

佩佩幣價格呈現看漲三角旗模式，顯示上漲趨勢有可能持續。最近 PEPE 代幣的大規模撤資進一步支持了這種潛在的反彈。技術指標顯示市場存在不確定性，但三角旗形態的突破可能為看漲反彈提供必要的信心。