TRUMPUSDT Current StatusThe overall trend is bearish, but there's a strong and solid support zone between $8 and $8.50. On the daily timeframe, this support is still valid and has not been broken yet.
Right now, we have a descending trendline that the price is trying to break for the umpteenth time, and we're seeing another attempt today.
There's a chance the descending trendline could break, or it could fail and lead to a drop. In either case, the price of $8.45 could be a good spot for a long position with a 1:3.5 risk-to-reward ratio.
Personally, I never enter a position the moment a trendline breaks. I always wait for the price to come back to my desired entry point, which happens most of the time.
⛔ Disclaimer: This is not investment advice or a recommendation to buy. Please do your own research.
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