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.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.