The video analyzes PEPEUSDT, noting it has reached the 0.236 retracement level. A downtrend from October is in play. As long as PEPE is below 0.0000050, it is considered bearish. Breaking above 0.0000050 signals a potential rally to the 0.382 retracement at 0.00000573. A failure to break out suggests a new low is possible. Only breaking above 0.00000573, the 0.382 retracement, indicates a larger rally, potentially to 0.00000718 or 0.0000084. As long as the price remains below 0.0000049, it's bearish; similarly, below 0.0000057, it is still considered bearish. Only a move above 0.0000057 suggests the bottom is in.