FOR BEGINNERS#TRUMP
Let's analyze TRUMP/USDT using the same 5 components:
1. **Market Structure**:
- Just had a sharp rise (from 14.27 to 24.58)
- Now experiencing a correction/pullback
- Price fell from HH (Higher High) 24.58
2. **Psychological Level**:
- Level 20.00 is an important psychological level
- Current price (19.68) is already below level 20.00
- Strong resistance at 24.58
3. **Fibonacci**:
- Price is in a retracement phase after a strong rally
- Has passed several Fibonacci levels from the previous rally
- Shows potential for further correction
4. **Trendline**:
- Break of rising trendline
- MA(7): 21.01 > MA(25): 17.43 > MA(99): 18.87
- Price is below MA7 (short-term bearish signal)
5. **Candlestick**:
- Long red candle indicates selling pressure
- Trading volume is quite high
- MACD is still positive (0.28) but momentum is starting to weaken
**Conclusion and Recommendation**:
For the short term, it is safer to take a SELL position because:
1. Break the rising trendline
2. Strong red candle with high volume
3. Price is below MA7 and the psychological level of 20.00
However, note:
- Set a stop loss above 20.56
- Take profit can be around 18.29
- Pay attention to the bounce potential because the correction is quite deep
As usual, always use good risk management and do not use all your capital in one position.