- Trump was unable to retain his bullish H4 structure and shifted again
- Liquidation levels at $ 14, $ 16 and $ 18 can reverse the current price
In a recent analysis, Ambcrypto noted that the official Trump [TRUMP]’s Rally to $ 17.75 On Sunday, his Central Februari rally reflected. As such, it was expected that the move was a liquidity handle and the chance of a reversal was high.
This has come. Since the weekend pump, the Memecoin has fallen by 24.23%, which means that there is also a lower layer on the 4 -hour period. The sales volume has been considerable, with Bitcoin [BTC] Continue to act under the most important resistance zone for $ 90k $ 92k.
These factors will make it more difficult for Trump Bulls to enforce a recovery.
Official Trump to face resistance at $ 14, bearish in reversing probably
Source: Trump/USDT on TradingView
On March 1, Trump saw a bullish market structure break (blue), with the subsequent rally that reached $ 17.75 before reversing. This was followed by a rapid Beerarish market structure shift (red) when the price dropped below $ 12.27.
The suddenness of the price fall on Monday meant that there was a great real value gap (white) overhead. This zone is likely to act as a resistance and stand in line with the $ 14- $ 14.25 resistance zone.
That is why it is likely that the official Trump would stop around $ 14. Further north, the next resistance zone would be $ 16.5- $ 17. Although traders can anticipate a move to the south from $ 14, they must also be willing to reduce their losses in case Trump goes beyond $ 15.
The 1-week liquidation Heatmap emphasized the levels of $ 13.8- $ 14 and $ 15.9- $ 16.1 as the magnetic zones from interest to the price. The $ 11.25-$ 11.6 region to the disadvantage is also an attractive liquidity goal.
As mentioned earlier, a step than $ 15 would make the idea from an immediate price decrease to $ 12 invalid. The Shorter-Period Liquidatie Heatmaps emphasized $ 18, the recent local highlights, as another important liquidity cluster.
Trying to swing under these circumstances can be dangerous and scalpering can be more favorable. Traders can also choose to stay aside until the $ 18 level, a stronger resistance zone, is tested again.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer