How many people are watching the price board
$TAO and feeling “an itch to trade” right now? Don’t let this pale blue 2.9% fool you—because in a market full of deception, nothing is more frightening than entering a trade when price is just moving sideways, like a lost soul.
Take a quick look at the technical data to stay sharp:
🔹 On the 15-minute chart, price is hovering around 192.70$, sticking close to the MA(20) at 192.96$ and the EMA(9) at 193.16$. Just look at this chart—you can tell the bulls are trying to push up, but they’re running out of steam; volume is rather thin.
🔹 On the 1-hour chart, price is below the MA(20) at 192.74$, with the EMA(9) at 193.46$. This signal suggests the bears are controlling things slightly, and short-term resistance is pressing down right overhead. Don’t expect a crazy PUMP if you haven’t seen a sudden spike in volume.
Personally, I think
$TAO is in an extremely tight compression phase. It’s waiting for a push to break this balance. If you’re not careful, traders are very likely to get swept with stop-losses on both sides.
Here’s the setup I’m observing to “deal with” this coin:
📌 Position: SHORT (Selling is preferred if the resistance test fails).
🎯 Specific setup:
- Entry: 193.50$ - 194.00$ (Wait for it to bounce up and test the 1-hour EMA(9)).
- TP (Take profit): 188.00$ - 185.00$.
- SL (Stop loss): 196.20$ (Going beyond this level means the scenario is wrong—exit immediately).
Don’t rush. This market isn’t going anywhere fast. If you enter trades like “gambling,” sooner or later the exchange will collect all the money back. Keep a cool head and follow discipline.
So, what do you think—does
$TAO have enough power to break the 194$ zone and surge upward, or will it bury its head and come back down to retest strong support below?
#Crypto #Trading #Bittensor
Note: This is my personal perspective, not investment advice. Trading always involves risk (DYOR).