Bittensor CUP and Handle Update:
2024-08-23

Hallo ladies and gents. Skipping the bullshit, this is only an update to my previous TA.

 MEXC:TAOUSDT  1 Day Time-frame: 
seems to have broken out of the Triangle to the upside. The price has not only broken the triangle, but it also broke the 100 MA on the Daily Timeframe. The price is closing in green after 6 Green days again. This is significant and a very bullish pattern. It is also repeated previously if you take a look at its past price-movement.  

Zooming in on  MEXC:TAOUSDT  4HR Timeframe to see what's going on on the short term: 

The previous week the price has also broken the Downtrend Channel to the upside: 


The 100 and 200 Moving Averages are forming a Bullish Golden Cross.

Zooming out you can see that the Cup and Handle still holds up, even if it has a few invalidations here and there.

Short-term target is the 200 MA on the 1D which places the potential price of  MEXC:TAOUSDT  
at $434/TAO.

I'm looking for even higher targets once the Golden Cross happens on the 1D.
It will then turn ballistic and trade to ATH and possibly beyond short term. 

Bought the dips so far and now reap the greens :D

Taking a look at a worst case scenario: The price could revisit the lowest Order Blocks if anything out of the ordinary happens. Always be wary of the possibility, so when and if it arrives - you're prepared better. Always expect possible downtrend in Crypto, even if all looks bullish.

Thank you for reading, let me know your thoughts by sharing them. Do you see anything else going on?