Trading Plan Short $TAO
$TAO just lost the 1H EMA50, rejecting a pump into prior resistance.
Entry: $201.61-$204.61
Stoploss: $209.50
Targets: $199.00 / $192.50 / $184.00
TAO swept the 205.25 resistance briefly yesterday, but the move failed to hold, now trading below the 1H EMA50. Sellers are aggressive, with taker sell volume dominating and OI adding 4% on this recent dip, suggesting real distribution. Retail is heavily long at 1.99 L/S, trapped in this range. A clean reclaim of $206.00 invalidates the short thesis.
Trade $TAO here 👇
$TAO just lost the 1H EMA50, rejecting a pump into prior resistance.
Entry: $201.61-$204.61
Stoploss: $209.50
Targets: $199.00 / $192.50 / $184.00
TAO swept the 205.25 resistance briefly yesterday, but the move failed to hold, now trading below the 1H EMA50. Sellers are aggressive, with taker sell volume dominating and OI adding 4% on this recent dip, suggesting real distribution. Retail is heavily long at 1.99 L/S, trapped in this range. A clean reclaim of $206.00 invalidates the short thesis.
Trade $TAO here 👇