$TAIKO ❄️
$TAIKO crashing 4.6% with 4.0x volume surge
- Given the momentum, trend, and that a new swing low is still forming, I expect further downside in the short term. I do NOT see clear evidence that this is the bottom yet. This looks more like panic selling and possible smart money distribution flush, which may not be fully completed yet 📉
- If you want to short, look for a weak bounce/retest towards 0.1091 or 0.1110. Enter a short if price rejects these levels with bearish confirmation (like a pin bar, lower high, or sell-off on lower timeframes). Take profits at 0.1040, then 0.1014, and then 0.0981. Place your stop at the swing high of the rejection candle or above the recent lower high 🪂
- If you see price spike sharply below 0.1040–0.1014 and immediately reverse with strong bullish confirmation (such as a big engulfing candle, double bottom, or significant absorption wick), consider a quick scalp long back towards 0.1091. Enter only with clear bullish reversal patterns and confirmation! Otherwise, avoid catching the falling knife ⚡
- If price reclaims and holds above 0.1124 with strong volume, this would shift my bias to neutral/bullish for a possible mean reversion rally to 0.1150–0.1187, but that scenario is not confirmed yet. Wait for a clear breakout and retest if attempting longs 🔄
📝 This is not investment advice, only an educational report for your trading decisions! Please use proper risk management and always wait for confirmation before taking action.
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#TAIKO