$TAO Graphic Analysis - Cold and Impartial - 4H
1. Current Trend:
• Clearly in a strong uptrend.
• Green candles dominate, with little correction between them.
2. Moving Averages:
• MA7 (yellow) is serving as immediate dynamic support.
• MA25 (pink) is well below, reinforcing that the price is stretched.
• MA99 (purple) is even further away, indicating that we are well above the long-term average (strong momentum).
3. RSI (Relative Strength Index):
• RSI(6) is at 78.5 and RSI(12) at 77.9 — clear overbought zone.
• Normally, this suggests that the price may need a pause or brief correction.
4. Volume:
• Increasing volume on the rise: confirming the strength of the movement.
• There does not seem to be divergence between price and volume (which would be concerning).
5. MACD:
• Positive MACD and opening upwards: continuation of strength.
• The green bars on the histogram are strong, with no signs of a bearish crossover yet.
6. Visible Supports and Resistances:
• Recent support: US$ 299-300.
• Immediate resistance: US$ 315 (recent maximum reached).