$PEPE

a look at the 4-hour chart shows the consolidation is narrowing with two converging trendlines to make a triangular structure. After the August end drop, this triangular setup shows the formation pennant pattern.

Though the formation of this pattern suggests extended downfall, interested traders must prepare for a downside breakdown as a possible upside break will invalidate the selling thesis. Therefore, the range within the triangle can be considered a no-trading zone.

Source: Sahil Mahadik