Mr Perfect929
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If you're holding $TRUMP and wondering what to do after the recent rally and correction, here's a detailed breakdown to guide you.
*Current Scenario: Overhyped Rally*
$TRUMP saw a massive surge, leading many buyers to enter at high levels. Unfortunately, a sharp correction has left many with significant losses, ranging from -50% to -60%.
*Technical Analysis Highlights*
- *Downtrend Dominates*: The overall trend is bearish, putting pressure on prices.
- *Key Support Zone*: The trendline from the bottom is acting as crucial support. Historically, has respected Fibonacci retracement golden zones (0.5 and 0.61 levels) significantly.
*Critical Levels to Watch*
- *Breakdown Scenario*: If the price breaks the trendline support, it could test the $20 level, signaling a selling momentum opportunity.
- *Rejection & Bullish Formation*: If the trendline holds and the price forms a bullish pattern, this could trigger a move toward the $60+ range.
*What Should You Do?*
1. *For Current Holders (at High Levels)*: Watch the trendline support closely. A breakdown may indicate a further drop—consider managing risk. If support holds, consider averaging down or holding for a potential recovery.
2. *For New Buyers*: Wait for confirmation: Either a bullish reversal near support or a clear breakdown to capitalize on selling momentum. Avoid chasing the hype blindly—stick to the technicals!
Remember, the market is unpredictable, and patience and vigilance are key. Always use proper risk management when trading volatile assets like $TRUMP
*Current Scenario: Overhyped Rally*
$TRUMP saw a massive surge, leading many buyers to enter at high levels. Unfortunately, a sharp correction has left many with significant losses, ranging from -50% to -60%.
*Technical Analysis Highlights*
- *Downtrend Dominates*: The overall trend is bearish, putting pressure on prices.
- *Key Support Zone*: The trendline from the bottom is acting as crucial support. Historically, has respected Fibonacci retracement golden zones (0.5 and 0.61 levels) significantly.
*Critical Levels to Watch*
- *Breakdown Scenario*: If the price breaks the trendline support, it could test the $20 level, signaling a selling momentum opportunity.
- *Rejection & Bullish Formation*: If the trendline holds and the price forms a bullish pattern, this could trigger a move toward the $60+ range.
*What Should You Do?*
1. *For Current Holders (at High Levels)*: Watch the trendline support closely. A breakdown may indicate a further drop—consider managing risk. If support holds, consider averaging down or holding for a potential recovery.
2. *For New Buyers*: Wait for confirmation: Either a bullish reversal near support or a clear breakdown to capitalize on selling momentum. Avoid chasing the hype blindly—stick to the technicals!
Remember, the market is unpredictable, and patience and vigilance are key. Always use proper risk management when trading volatile assets like $TRUMP
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.