Stacks

Bittensor

Rekt (rektarb.xyz)

Higher

Rekt

<p>In the latest Rekt Capital newsletter, the expert analyzed the recent performance of Stacks (STX), noting that it has been repeating historical patterns. Currently, STX is forming a macro market structure near a macro Higher Low.</p>
<p>After breaking from this structure, it has been retesting the top, establishing new support. This breakout-retest-continuation process has historically varied in duration, taking two weeks in early 2023 and extending to three to four weeks later that year.</p>
<p>As of now, <a href="https://www.coingecko.com/en/coins/stacks" target="_blank" rel="noopener noreferrer nofollow">Stacks (STX) </a>is in its fifth week of this process. The analyst pointed out that while the duration is increasing, the breakout-retest-continuation mechanism remains valid.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/dogecoin-price-hits-final-bottom-technical-analysis-suggests-doge-could-surpass-10-this-cycle/" target="_blank" rel="noopener noreferrer nofollow"> Dogecoin Price Hits ‘Final Bottom’: Technical Analysis Suggests DOGE Could Surpass $10 This Cycle</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="686" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-1024x686.png" alt="" class="wp-image-571528" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-899.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Despite taking longer, STX continues to retest the top of the macro pattern as support, potentially leading to a multi-week re-accumulation structure.</p>
<p>A new Lower High has emerged for STX, prompting the need to watch for the formation of a new Higher Low, which could signal continuation on the macro wedge. The provisional structure identified by the expert indicates that while a new Lower High is confirmed, the exact position of the bottom remains uncertain, although a new Higher Low is suspected.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="686" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-1024x686.png" alt="" class="wp-image-571520" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-898.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The top of the macro wedging structure is anticipated to serve as crucial support, with technical potential for this support to align with a <a href="https://www.thinkmarkets.com/en/trading-academy/indicators-and-patterns/falling-wedge-pattern/" target="_blank" rel="noopener noreferrer nofollow">Falling Wedge</a> bottom.</p>
<p>The analyst will continue to monitor this emerging structure, indicating that STX is forming a new continuation pattern above the macro wedging structure as part of its post-breakout retesting phase.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/analyst-skeptical-sui-is-a-solana-killer-heres-what-needs-to-happen-for-sui-to-flip-sol/" target="_blank" rel="noopener noreferrer nofollow">Analyst Skeptical Sui is a ‘Solana Killer’ – Here’s What Needs to Happen for SUI to Flip SOL</a></em></strong></p>
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<h2 class="wp-block-heading" id="bittensor-tao-could-continue-downside">Bittensor (TAO) Could Continue Downside</h2>
<p><a href="https://newsletter.rektcapital.co/email/616a4ec2-73b7-4b5d-9e60-93a104f4b7ed/?ref=rekt-capital-newsletter" target="_blank" rel="noopener noreferrer nofollow">In recent weeks, Rekt Capital</a> has also provided detailed insights into Bittensor (TAO). Earlier this month, the analyst noted that TAO was positioned just below significant Range High resistance, grappling with a Bearish Divergence on the daily chart.</p>
<p>This divergence began to manifest last week, leading to expectations of a price drop towards the blue $521 Range Low support.</p>
<p>Indeed, TAO has since declined to this Range Low support on the weekly timeframe. The daily Bearish Divergence remains strong, with the RSI continuing to trend downward.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="686" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-1024x686.png" alt="" class="wp-image-571544" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-901.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><a href="https://newsletter.rektcapital.co/email/616a4ec2-73b7-4b5d-9e60-93a104f4b7ed/?ref=rekt-capital-newsletter" target="_blank" rel="noopener noreferrer nofollow">The expert emphasized</a> that for TAO to reverse its price trajectory, it must break this RSI Downtrend. Until such a break occurs, maintaining the Weekly Range may prove challenging.</p>
<p>The analyst highlighted the importance of TAO closing above the $521 Range Low to sustain its position. There exists a real possibility of TAO downside wicking below this level, reminiscent of previous volatility. The last significant downside wick occurred when TAO dropped to $473 before closing above the $521 mark.</p>
<p>Should TAO experience a downside wick this week, the price must still close above $521 to uphold this support. The expert suggested that a temporary drop into the high $400s could potentially facilitate a break in the RSI Downtrend.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/analyst-skeptical-sui-is-a-solana-killer-heres-what-needs-to-happen-for-sui-to-flip-sol/" target="_blank" rel="noopener noreferrer nofollow">How Much Will Solana (SOL) Be Worth at the Peak of the Bull Run?</a></em></strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="686" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-1024x686.png" alt="" class="wp-image-571536" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-900.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Ultimately, bullish investors are cautioned against bearish confirmation, which would entail a Weekly Close below $521, followed by a wick back into that level, potentially flipping it into resistance and triggering further downside.</p>
<p>To avert this scenario, TAO needs to maintain the Weekly $521 support, possibly allowing for a volatile retest while working to invalidate the ongoing Daily RSI Downtrend, thereby building strength at the $521 level.</p>
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<p>The post <a href="https://captainaltcoin.com/recurring-bullish-pattern-signals-imminent-stack-stx-price-rally-indicator-points-to-continued-downside-for-bittensor-tao/" rel="noopener noreferrer nofollow">Recurring Bullish Pattern Signals Imminent Stack (STX) Price Rally; Indicator Points to Continued Downside for Bittensor (TAO)</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Recurring Bullish Pattern Signals Imminent Stack (STX) Price Rally; Indicator Points to Continued Downside for Bittensor (TAO)

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