TAO Long Spot Trade (Reclaiming Resistance)
Market Context:
TAO is showing strength by reclaiming key resistance levels as support and attempting to form a higher low. The setup suggests potential for further upside if price consolidates above $450 and reclaims the daily 21 EMA. A break above $600 could lead to price discovery.
Trade Setup:
Entry: Between $450 and $490
Take Profit Targets:
First target: $590
Second target: $760
Third target: $960
Stop Loss: Daily close below $400
This setup aligns with a strong risk-to-reward ratio, leveraging the potential for continuation beyond $600. #TAO
TAO is showing strength by reclaiming key resistance levels as support and attempting to form a higher low. The setup suggests potential for further upside if price consolidates above $450 and reclaims the daily 21 EMA. A break above $600 could lead to price discovery.
Trade Setup:
Entry: Between $450 and $490
Take Profit Targets:
First target: $590
Second target: $760
Third target: $960
Stop Loss: Daily close below $400
This setup aligns with a strong risk-to-reward ratio, leveraging the potential for continuation beyond $600. #TAO
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