$TAO: Bearish Continuation Pattern Confirmed on $TAO Chart Structure
SHORT SETUP TAO
Entry: $280.000 - $283.000
Stop Loss: $294.500
Take Profit: $255.500 (2R)
Key Levels: Support $269.000 | Resistance $288.000
Technical Analysis for $TAO: Price is trapped below the 21 and 50 EMAs, with MACD negative and RSI at 38.6, confirming bearish momentum. The 1H structure favors a retest of the 269.0 support. Watch for a rejection at the 288.0 resistance or EMA50 zone to confirm the downtrend. A break above 294.5 would invalidate this short setup.
Market Context: Bitcoin remains bearish on the 4H chart, with 71.8% of the market trading red, creating a negative backdrop for altcoins like TAO.
SHORT $TAO
SHORT SETUP TAO
Entry: $280.000 - $283.000
Stop Loss: $294.500
Take Profit: $255.500 (2R)
Key Levels: Support $269.000 | Resistance $288.000
Technical Analysis for $TAO: Price is trapped below the 21 and 50 EMAs, with MACD negative and RSI at 38.6, confirming bearish momentum. The 1H structure favors a retest of the 269.0 support. Watch for a rejection at the 288.0 resistance or EMA50 zone to confirm the downtrend. A break above 294.5 would invalidate this short setup.
Market Context: Bitcoin remains bearish on the 4H chart, with 71.8% of the market trading red, creating a negative backdrop for altcoins like TAO.
SHORT $TAO