$TAO TAO Double Bottom Forming ๐ง ๐โก๏ธ๐ | Bullish Reversal Setup in Play ๐ฅ๐
๐งฌ TAO is showing signs of strength โ and the chart just flashed a classic double bottom pattern ๐๐. This formation often precedes trend reversals and right now, bulls are pushing back hard after testing key demand zones twice ๐ก๏ธ๐.
๐ Price dipped to a previous low โ but instead of breaking down, it bounced aggressively โก๐ข. That second bounce confirmed the double bottom, and now eyes are on the neckline breakout ๐ง๐. This could be the ignition point for a serious move upward ๐๐ฅ.
๐ Technicals are leaning bullish:
RSI is rising from oversold zones ๐ฏ๐
MACD shows a bullish crossover just as the pattern forms ๐โก
Volume spikes are supporting the bounce โ not just a dead cat move ๐โโฌ๐ฅ
๐ง On-chain metrics back the move too. Whale addresses are showing signs of early accumulation ๐๐ฆ, and exchange balances are falling, indicating tokens are moving into cold storage ๐๐ โ a clear sign of strong conviction.
๐ฃ๏ธ Social sentiment is starting to shift โ TAO chatter is picking up, especially around this double bottom breakout potential ๐ฅ๐ข. Speculators are calling for a possible trend reversal, and the community is waking up ๐ดโก๏ธโก.
โ๏ธ Still, market uncertainty isnโt gone. Rejection at neckline resistance could lead to another consolidation phase. Donโt ape in blindly โ manage risk and watch for breakout confirmation ๐๐ง .
If momentum holds, this double bottom could be the launchpad for TAOโs next leg up. Itโs a chart to watch closely. Buckle up! ๐ง ๐๐
โ ๏ธ Not financial advice โ always DYOR ๐ง ๐