After I just finished reading the bearish news, many people are still waiting for a bounce, but I feel like the setup here is increasingly starting to look like a path laid out for the shorts.
$TRUMP was pushed up a few times at the high end, but there’s never been continuous follow-through. Whenever the price gets near the top, it gets pushed back down—the lack of strength in the bounce is very obvious.
When the intraday dump happened, I set up a long position around 1.681. At the time, the guidance was simple: don’t get tricked by a brief red candle; if volume can’t keep up, once the sell