🚨 Analysis of the $TAO coin… Entry is conditional and caution is required ⚠️
Based on combining the frames, the current situation suggests that $TAO is trying to build a bottom for a rebound, but for now we received a clear green light for an upside move 👍
🔍 Analysis:
The price is still trading below the EMA lines, which are forming a stubborn resistance above the price.
The MACD indicator is still below zero and is showing a bit of sell momentum, while the RSI is around 39 to 49, meaning buying momentum is still weak and we’re waiting for liquidity to enter the play.
Current support: The price is attempting to stabilize above the nearby support at 229.7, and as long as it stays above it, the hope for a rebound is still there.
⚠️ Entry plan:
Confirmation & entry condition: I don’t recommend entering immediately from the current price of 235.5. The best approach is to wait for the 4-hour candle to close above the 242.0 level. This close is the safety key—it confirms the breakdown is being negated and the trend is turning.
🎯 Targets after the condition is met:
First target: 254.8
Second target: 267.3
🛑 Strict stop loss: Close a 4-hour candle below 229.0. Breaking this support cancels the idea and can lead to a deeper drop—so the stop must be ironclad.
A professional trader is the one who waits for confirmation and doesn’t let emotion take over… This is a personal analysis, not financial advice. Good luck to everyone 🤲 💸
#TAO #TAOUSDT #Bittensor #CryptoAnalysis #TechnicalAnalysis #BinanceSquare #CryptoTrading #العملات_الرقمية
Based on combining the frames, the current situation suggests that $TAO is trying to build a bottom for a rebound, but for now we received a clear green light for an upside move 👍
🔍 Analysis:
The price is still trading below the EMA lines, which are forming a stubborn resistance above the price.
The MACD indicator is still below zero and is showing a bit of sell momentum, while the RSI is around 39 to 49, meaning buying momentum is still weak and we’re waiting for liquidity to enter the play.
Current support: The price is attempting to stabilize above the nearby support at 229.7, and as long as it stays above it, the hope for a rebound is still there.
⚠️ Entry plan:
Confirmation & entry condition: I don’t recommend entering immediately from the current price of 235.5. The best approach is to wait for the 4-hour candle to close above the 242.0 level. This close is the safety key—it confirms the breakdown is being negated and the trend is turning.
🎯 Targets after the condition is met:
First target: 254.8
Second target: 267.3
🛑 Strict stop loss: Close a 4-hour candle below 229.0. Breaking this support cancels the idea and can lead to a deeper drop—so the stop must be ironclad.
A professional trader is the one who waits for confirmation and doesn’t let emotion take over… This is a personal analysis, not financial advice. Good luck to everyone 🤲 💸
#TAO #TAOUSDT #Bittensor #CryptoAnalysis #TechnicalAnalysis #BinanceSquare #CryptoTrading #العملات_الرقمية
