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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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。