Trump Coin (TRUMP/USDT) Trading Journal & Analysis
Date: March 1, 2024
Exchange: Bitget
Pair: TRUMP/USDT (Perpetual Futures)
Leverage: 5x
Trading Overview
- Entry: Short position opened @ 13.252
- Exit: Partial position closed @ 13.024 (Short profit +1.74%)
- Current Price: 13.206
- Volume: 6.86K
- Support Level: 13.155
- Resistance Level: 13.270 ~ 13.400
March 1, 2024
Today, I entered a short position in TRUMP/USDT at 13.252. I noticed that the price was facing strong resistance around 13.400, which aligned with the EMA(200) level at 13.394. The stochastic RSI was in the overbought territory, indicating that a correction might be imminent. Additionally, the volume had started decreasing, showing signs of weakening buying pressure.
As expected, the price started to decline, and I partially closed my short position at 13.024, securing a 1.74% profit. However, the price did not break below 13.000, and I decided to monitor how it reacts around the 13.155 support level.
Looking ahead, if the price finds support at 13.155 and starts to recover, I might consider another short position around the 13.270 to 13.400 resistance zone. However, if it fails to hold 13.000, I anticipate further downside toward 12.800.
For now, I am watching the price action closely and waiting for the next opportunity. The market remains volatile, and careful position management is essential.
Trade TRUMP/USDT on Bitget Bitget – Referral Sign-Up Link