$TRUMP 🈳
#TRUMP Trading Analysis of Trump Coin. Earlier, I was trying to short $TRUMP, starting with a 1% short position to test the waters. TRUMP fits a common altcoin "short-term pump-double top-distribution" structure. The specific method is: 1. Use some positive news to pump two or three big bullish candlesticks, achieving a 50%~100% increase in a short time, commonly doubling. The speed is so fast that retail investors can't get in. 2. Distribute during consolidation. The double top appears, accompanied by weakening volume. 3. After the double top, it plummets. That's why I had the short position earlier. But just now, after a bullish candlestick on the 15-minute level, I indeed closed the position to stop the loss. In this situation, I'm not sure what this bullish candlestick from the market maker means, two possibilities: 1⃣ liquidating high leverage shorts 2⃣ the market maker wants to continue pushing up. For me, with only a 1% position, there's no need to gamble, so I closed the position to observe. Next, observe whether TRUMP will break through $16.5 with volume. If it continues to hit new highs and the volume is sufficient, it may go up another wave. If it stops here and falls below $14, then it can be confirmed that this TRUMP trend is over. I tend to believe the latter has a higher probability, as external funds can't keep up, and there is no more positive news to support it. The high-level consolidation is just to set up more short positions.
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