I had been told of TAO when it was already over 70 USDT and I thought it would have retraced a bit to buy but instead it never really did a proper retracement and it has been on fire since then.
Yesterday I noticed that what it should have been a retracement attempt really turned into consolidation (bullish pennant I'd say) which is now breaking out. Honestly too much pumping, as you can see it's been over the TMA for a month now. Assuming for a chart so young TMA is reliable I'd expect a retracement but... PEOPLE IS BULLISH and when people is bullish pumps exceed expetation and TA. Even the oversold RSI and the clearly bearish DIV could mean nothing if people remains too much bullish.
I would love to pick some TAO around 140 USDT but it seems unlikely at this point, if this breakout doesn't pump too much maybe 170 area is more doable. The volume is lowering though!
Here the 4h chart: https://www.tradingview.com/x/1arx7nSG/
At 4h the volume spiked so maybe we could see volume start rising again.
Yesterday I noticed that what it should have been a retracement attempt really turned into consolidation (bullish pennant I'd say) which is now breaking out. Honestly too much pumping, as you can see it's been over the TMA for a month now. Assuming for a chart so young TMA is reliable I'd expect a retracement but... PEOPLE IS BULLISH and when people is bullish pumps exceed expetation and TA. Even the oversold RSI and the clearly bearish DIV could mean nothing if people remains too much bullish.
I would love to pick some TAO around 140 USDT but it seems unlikely at this point, if this breakout doesn't pump too much maybe 170 area is more doable. The volume is lowering though!
Here the 4h chart: https://www.tradingview.com/x/1arx7nSG/
At 4h the volume spiked so maybe we could see volume start rising again.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I do TA because I like and it seems at least 70% of my calls usually turn out to be true. If you wanna support me please donate some tradingview coin or check "about me"
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.