TAO's trend is stuck at the upper Bollinger Band here, with the MACD red bars significantly increasing in volume, clearly indicating that the bulls are up to something.
However, this position at the upper band has never been friendly; a successful breakout would aim straight for the previous high of 432, while if it gets pushed back down, we need to see if the mid-band at 344 can hold.
Recently, this candlestick drama has been quite intense; after the red three soldiers just flexed their muscles, they immediately gave you a top reversal warning. The Bollinger Band's mouth is widening, which means that volatility will increase in the future.
The current situation is that the bulls are dominant but the upper band is pressing down. We can either wait for a beautiful breakout or wait for a pullback confirmation; rushing in can easily turn you into a live target.
In critical positions, you need to stay calm and let the market take a couple of steps first before making a move.
In the crypto world, choice is greater than effort! Follow the right people, and making money will come naturally!
