DAY 1 POSTING ON BINANCE SQUARE UNTIL $10,000 IS REACHED
TRUMPUSDT.P Chart Analysis (1 Hour)
Looking at the chart, we can identify several key points:
General Context: The price has experienced a significant rise from the $9,500-$10,000 area to a high near $16,000. It has subsequently entered a corrective phase.
Strategy: Look for a long entry (buy) if the price shows signs of bullish rejection in the demand zone.
Entry Range: I would look to enter between $10,700 and $10,900 USDT.
Confirmation: It's prudent to wait for the price to enter this zone and show some signs of strength or stabilization on the 1-hour chart or even a shorter timeframe (e.g., 15-minute), such as a bullish reversal candle or a decrease in selling pressure. Don't jump in "blindly" just because it touches the zone.
I would place the stop loss just below the demand zone to protect the position in case support fails to hold.
Suggested SL: $10,250 USDT (This gives a margin below the lower limit of $10,400).
TP1 (Conservative): The level of the recent breakout, which could now act as resistance. $11,700 - $12,000 USDT.
TP2 (Moderate): The bottom of the red supply zone. $12,500 - $12,600 USDT.
TP3 (Aggressive): The top of the red supply zone or slightly above. $13,000 - $13,100 USDT.