TAO's engagements up 5,231% this week; the coin still down 23% in a month. Attention arrived — I'm watching the gap.
LunarCrush ranks TAO AltRank #2; CoinGecko lists it trending today. Behind the noise: a bounce, not a breakout. Nov 5 flushed $234.50 to $214.10 in one 4-hour candle, the week's biggest volume bar; buyers reclaimed $227.50, then stalled. It's $224.50, still under its 50- and 200-day averages.
Perpetuals add a wrinkle: open interest up ~2.5% in 24 hours as price rises — fresh longs, not shorts covering. If OI rolls over while $227.50 holds, those longs were fuel, not floor.
My read: a social spike inside a downtrend, not a reversal. A daily close above $239.90 proves me wrong.
Floor $212.10, the Nov 5 low; ceilings $227.50, then $239.90. A daily close under $212.10 breaks the bounce. Snapshot 11:49 WIB, Nov 7.
Did the engagement spike pull you in this week, or are you waiting for the chart to confirm it?
NFA, DYOR.
$TAO $BTC #Bittensor #TAO #AI #Crypto
LunarCrush ranks TAO AltRank #2; CoinGecko lists it trending today. Behind the noise: a bounce, not a breakout. Nov 5 flushed $234.50 to $214.10 in one 4-hour candle, the week's biggest volume bar; buyers reclaimed $227.50, then stalled. It's $224.50, still under its 50- and 200-day averages.
Perpetuals add a wrinkle: open interest up ~2.5% in 24 hours as price rises — fresh longs, not shorts covering. If OI rolls over while $227.50 holds, those longs were fuel, not floor.
My read: a social spike inside a downtrend, not a reversal. A daily close above $239.90 proves me wrong.
Floor $212.10, the Nov 5 low; ceilings $227.50, then $239.90. A daily close under $212.10 breaks the bounce. Snapshot 11:49 WIB, Nov 7.
Did the engagement spike pull you in this week, or are you waiting for the chart to confirm it?
NFA, DYOR.
$TAO $BTC #Bittensor #TAO #AI #Crypto
