Trump pumped the market. Should we be cautious like the classic weekend low volume market pumps?
Actually, after the weekly close today (there are only 3 hours left as of the moment I am writing this article), I was going to share the analysis updates tomorrow, but there is an extreme FOMO due to the pump that came with the news from Trump. That's why I wanted to share the critical levels early.
I will share the general LTF & HTF analyses' updates for various coins/tokens tomorrow.
First of all, today's rising effect was experienced first in $XRP , $ADA and $SOL with the announcement made by Trump on Truth Social. Then, we can say that it spread to the market in general and especially to the ETH ecosystem with the news about $BTC and $ETH.
In the aftermath, Eric Trump, Michael Saylor and tons of other accounts on X quoted them.
I will not go into the scope of the message or the deciphering of its content here.
Hours ago, an account on a DEX had opened very large BTC and ETH longs. Normally, liquidation levels were close and it seemed risky, but after these announcements, it seems almost certain that it was an insider(!).
Anyway, let's quickly look at the technical side. I had shared that it had turned from a place very close to the level I gave as the first level support in the daily trend. The big wick in the decline almost filled both GAPs above this support (still not completely) and rose to a good level in the lower timeframes (up to 4H).
First, the white line shows a trend-based downtrend that has not yet been broken.
I said that the red and orange dashed lines are the range deviation limits and if there is going to be a reversal, it should quickly bounce above it without staying too long below it and re-enter the range.
From this perspective, it is still positive. However! If it falls back under the green box at this stage and exits the range, it turns into a very negative image and this movement remains a manipulation!#USCryptoReserve $ETH $XRP #BTCRebundsBack #SHELLAirdropOnBinance #TraderProfile #BTCDipOrRebound