From the bigger picture, TAO is showing very clean price action.
Not only did it break out of its bearish trendline, it also successfully retested it.
The biggest driver for me is the long liquidation wick. Last time we saw a short-liquidation wick, price turned bearish not long after.
This time, it’s the opposite, a long-liquidation wick, which usually signals the bottom is in.
So there’s a big chance TAO pushes higher from here.
Not only did it break out of its bearish trendline, it also successfully retested it.
The biggest driver for me is the long liquidation wick. Last time we saw a short-liquidation wick, price turned bearish not long after.
This time, it’s the opposite, a long-liquidation wick, which usually signals the bottom is in.
So there’s a big chance TAO pushes higher from here.