- The structure of the official market for the official Trump downtomed through multiple time frames pointed to the decline in hegemony
- The $ 9 level was defended in early April, but it was waived, and Trump may decrease to $ 4.47 after that
Trump official [TRUMP] I continued a declining trend that did not depend on the plans. Pay panic throughout the market on Monday Bitcoin [BTC] To 74.5 thousand dollars, Trump indicated a 15 % decrease in 24 hours.
However, 24 -hour trading volume has increased by nearly four times since then.
The high trading volume, along with rapid price losses, hints to a tremendous drop throughout the market. Trump traders can wait a slight price to sell mechanics.
Trump is less than $ 9, can it be $ 5 is the next goal?
Source: Trumpt on Tradingview
On the graph for 12 hours, the structure was dumping. This topic was true across the multiple time frames, from one day to one hour. The declining structure for 12 hours has been the case over the past three months. Although the trend was not a surprise, the OBV decrease is less than domestic support was noticeable.
Since March 15, OBV has been maintained higher than a level (orange dotted), climbing slowly at the end of March. This indicates increased purchase pressure. Although the folder was not as high as it was in February, it seems that the bulls had the upper hand.
This situation changed quickly in April. Nub has decreased towards local support and at the time of the press, even decreased. This showed that any accumulation made during the past three weeks has been eliminated by the sellers. Relative power indicators were 23 years old and entered the sales lands – a sign of severe landfill.
However, Trump’s bulls may defend the level of $ 7.6 as support. This level was the level of Fibonacci by 23.6 % and could stimulate the slight prices.
Source: Trumpt on Tradingview
The two -hour graph also highlighted a strong drop. OBV was on the landmark, although the relative strength index began to adhere to the sale area. Prices can reach the level of $ 9, which served as support a few days ago.
This level is likely to be tested with the declining direction. The 12 -hour chart highlighted 61.8 % at 4.47 dollars as the next price goal.
Responsibility: The information provided does not constitute financial, investment, trading or other types of advice, which is just the opinion of the writer
