Extended Correction in Cryptocurrency Market

加密货币市场延续调整

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.

在市场抛售的背景下，加密货币市场呈现出持续回调的趋势。周二，比特币价格暴跌至 61,000 美元的低点。受青蛙主题启发的 memecoin Pepe 经历了 7.3% 的大幅下跌，努力将其价值维持在 38.2% 斐波那契回撤位 0.0000065 美元之上。

Bullish Pennant Pattern Emerges

看涨三角旗模式出现

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.

尽管市场出现调整，但对 4 小时图的分析表明，佩佩币价格正在形成看涨三角旗模式。该形态意味着上涨趋势有可能持续。

Large-Scale Withdrawal of PEPE Tokens

PEPE代币大规模提现

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.

据观察，币安在 10 小时内大规模撤回了 3293 亿个 PEPE 代币，价值约 246 万美元。这笔交易表明“聪明的钱”预计佩佩价格可能会反弹并恢复涨势。

Technical Indicators

技术指标

• 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

移动平均线趋同分歧（MACD）：MACD 和信号线徘徊在中线附近，表明市场存在不确定性。三角旗形态的突破可能为看涨反弹提供必要的信念。指数移动平均线 (EMA)：代币价格交易高于 200 天 EMA 斜率表明近期市场周期的看涨情绪。潜在突破和反弹

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 价格处于有利位置，可以突破三角旗形态的上方趋势线。此次突破将为买家提供支持，将复苏反弹扩大至 0.000009 美元，并可能扩大至 0.0001084 美元。

Conclusion

结论

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.

佩佩币价格呈现看涨三角旗模式，表明上涨趋势有可能持续。最近 PEPE 代币的大规模撤资进一步支持了这种潜在的反弹。技术指标表明市场存在不确定性，但三角旗形态的突破可能为看涨反弹提供必要的信心。