The TRUMP/USDT H1 chart screams indecision after a wild ride. It’s like the market had too much caffeine, rallied to $80, and is now trying to sober up near $42. Price action has shifted from explosive trends to tight consolidation, with the moving average acting as a tug-of-war line.
Key Observations:
Higher Highs (HH): The euphoric rally peaked at $80 (January 20th).
Higher Lows (HL): The market's last meaningful HL was at $40 (January 21st), showing some buyer resilience.
New Low (NL): The panic sell to $35 marked the start of the current consolidation.
Support: Buyers are holding the $40 level firmly.
Resistance: Sellers are lurking around $45, capping bullish attempts.
🐂 Bullish Scenario:
Consolidation near $42 is forming a potential bull flag, signaling continuation.
The moving average is flattening, but the bulls are defending HLs, which hints at accumulation.
🐻 Bearish Scenario:
The double top near $80 and subsequent sell-off suggest sellers are still in control.
Consolidation could also be a bearish rectangle, leading to a breakdown below $40.
If $40 breaks, the measured move could send prices plummeting to $30.
Inside Bars: Small candles within the range of larger bars are forming near $42, signaling indecision. Watch for a breakout.
Exhaustion Gaps: The gap up to $80 shows classic buyer exhaustion, leading to the current consolidation.
Higher Highs and Lows: Bulls need a HH above $45 for confirmation, while bears aim for a LL below $40.
TRUMP/USDT is like a soap opera with unpredictable twists. Consolidation suggests a breakout is imminent. Trade the direction of the breakout, but keep stops tight—this market doesn’t like hesitation!