Watching $TOP for a potential bounce scenario

Been keeping an eye on $TOP today, that surge early on was interesting. While it's pulled back a bit from the high, it looks like it's trying to hold above that 11.00 level. If it can solidify above that, I'd be looking for a potential retest of today's highs around 11.80. The risk that invalidates this would clearly be a break and sustained close below 10.85, at which point it could easily retrace further.