TAO is showing serious strength following the $20B crypto dump on Friday, October 10th. That event triggered a high-volume Spring out of the range, closing strong and decisively.
Volume on the Spring exceeded that of the Selling Climax (SC), which suggests we should now expect a Test of demand. Two key zones are in play for this test, but given the size of the wick, we may not see a deep pullback being nimble is key.
Most Bullish Scenario
Price finds support near the local 50% level (green line)
Reaccumulation occurs
Price targets the top of the range, forming a Jump Across the Creek (JAC)
If price pulls back on declining volume with overlapping candles (BU/LPS), expect a strong continuation
The minimal range target is ambitious, but that’s what the structure tells us. Respect the setup, manage the risk, and most importantly don't tell the chart what to do.
Volume on the Spring exceeded that of the Selling Climax (SC), which suggests we should now expect a Test of demand. Two key zones are in play for this test, but given the size of the wick, we may not see a deep pullback being nimble is key.
Most Bullish Scenario
Price finds support near the local 50% level (green line)
Reaccumulation occurs
Price targets the top of the range, forming a Jump Across the Creek (JAC)
If price pulls back on declining volume with overlapping candles (BU/LPS), expect a strong continuation
The minimal range target is ambitious, but that’s what the structure tells us. Respect the setup, manage the risk, and most importantly don't tell the chart what to do.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.