Stacks

Rally

Bittensor

Rekt (rektarb.xyz)

<p>In Rekt Capital’s latest newsletter, the analyst discusses the recent developments regarding STX and its breakout from a macro pennant. The current focus is on the retesting process that has been occurring within a sideways channel.</p>
<p>The analyst emphasizes the importance of <a href="https://coinmarketcap.com/currencies/stacks/" target="_blank" rel="noopener noreferrer nofollow">STX price</a> maintaining its position within this channel, as it serves as a critical parameter for a successful post-breakout retest from the pennant.</p>
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<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-1220-1024x686.png" alt="" class="wp-image-575522" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1220.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The analyst notes that continued support above the top of the black pennant, which coincides with the bottom of the orange channel, is essential for confirming a breakout over time. To achieve trend continuation, <a href="https://www.stacks.co/" target="_blank" rel="noopener noreferrer nofollow">Stacks (STX)</a> would need to close above the orange channel on a weekly basis.</p>
<h2 class="wp-block-heading" id="bittensor-tao-price-could-dip-amid-growing-bearish-signals">Bittensor (TAO) Price Could Dip Amid Growing Bearish Signals</h2>
<p><a href="https://newsletter.rektcapital.co/email/9936f3cd-2d2a-454f-b148-a2a028b634e6/?ref=rekt-capital-newsletter" target="_blank" rel="noopener noreferrer nofollow">The analyst</a> also provides an update on TAO, having covered it extensively in previous weeks. To avoid redundancy, the analyst recommends reviewing last week’s analysis for a detailed examination.</p>
<p>In the current update, the focus shifts to the Daily timeframe, where a <a href="https://www.ig.com/en/trading-strategies/how-to-trade-bullish-and-bearish-divergences-191004#:~:text=A%20bearish%20divergence%20is%20the,a%20rapid%20decline%20in%20price." target="_blank" rel="noopener noreferrer nofollow">strong bearish divergence</a> persists alongside a downtrend in the RSI, indicating resistance.</p>
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<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-1221-1024x686.png" alt="" class="wp-image-575530" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-1024x686.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-767x514.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-1536x1029.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-2048x1372.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-224x150.png 224w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-522x350.png 522w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221-788x527.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-1221.png 1000w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Due to this ongoing downtrend, the analyst concludes that a bullish price reversal cannot be entertained at this time. Additionally, the Weekly timeframe reflects weakness, as TAO is on the verge of losing its macro range.</p>
<p>Recently, TAO dipped below the Range Low of $521 and has now closed below this level, showing signs of potentially flipping it into new resistance.</p>
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<p>For TAO to remain within its range, a weekly close above the Range Low is necessary. Furthermore, the analyst stresses that TAO must invalidate the daily RSI downtrend, which currently shows no signs of happening.</p>
<p>Until these conditions are met, TAO appears to be increasingly likely to break down from its established range.</p>
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<p>The post <a href="https://captainaltcoin.com/stacks-stx-rally-hangs-on-this-key-support-bearish-signals-point-to-upcoming-dip-for-bittensor-tao-price/" rel="noopener noreferrer nofollow">Stacks (STX) Rally Hangs on This Key Support; Bearish Signals Point to Upcoming Dip for Bittensor (TAO) Price</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Stacks (STX) Rally Hangs on This Key Support; Bearish Signals Point to Upcoming Dip for Bittensor (TAO) Price

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