Why TRUMP Traders Are About to Experience a Hilarious Financial Fiasco! 😂💸

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  • It appears the bearish market structure has conspired against our dear traders, who must now don their most pessimistic hats.
  • Alas, TRUMP’s OBV has plummeted below the March lows, a clear indication that selling pressure is having a grand old time.

Official Trump [TRUMP] was once projected to reach the lofty heights of $5, but alas, the selling pressure has clung to it like a bad smell, leaving the price languishing below $7.6.

This level, dear reader, marks the 23.6% Fibonacci extension level, while the next target at $4.47, the 61.8% extension, remains a tantalizing possibility—if only we had a crystal ball! 🔮

Bitcoin [BTC] attempted a feeble bounce to $80k, but the selling pressure on the 8th of March sent the bulls scurrying back, much like a cat confronted with a cucumber.

With the global stock markets resembling a scene from a tragicomedy and fears of recession looming like a dark cloud, it seems crypto is in for a rather bumpy ride—perhaps even a few months of delightful chaos.

TRUMP bulls cling to $7.34 support, but for how much longer? 🤔

The higher timeframe charts, such as the 1-day and 12-hour, reflect a bearish market structure for TRUMP, while the 4-hour chart seems to be in a perpetual state of gloom.

Thus, traders might want to prepare for a short position or simply enjoy the view from the sidelines, as a buying opportunity for this memecoin seems as likely as finding a unicorn in your backyard.

The OBV made a valiant attempt to recover in the latter half of March, reflecting some buying pressure from the Official Trump market participants. However, these efforts were as effective as a chocolate teapot in a heatwave, failing to halt the price’s downward spiral.

The RSI has also been languishing below the neutral 50 mark for the past week, indicating a steady bearish momentum. It seems unlikely that the bulls will manage to hold onto the $7.34 support level for much longer—perhaps they should start practicing their goodbyes.

In the coming weeks, a move toward $4.5 appears likely, while a short-term bounce to $8, the local resistance, could be on the cards—if only the cards were not stacked against us!

The 2-week liquidation heatmap reveals two nearby magnetic zones of note. The closest one, at $6.9-$7.2, aligns with the indicators from the 4-hour chart, making it the likely short-term price target—if only we could harness the power of magnets to pull the prices up!

While the liquidity at $8.3 is indeed notable, it seems the TRUMP bulls lack the strength to propel prices that high. Therefore, short sellers might want to consider booking profits around the $7 target, as a bounce to $8-$8.3 would likely present a golden opportunity to sell Official Trump, given the trend remains firmly bearish.

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2025-04-09 16:12