$TAO
Bittensor (TAO) has recently exhibited notable market activity, particularly concerning short liquidations. A significant short liquidation of approximately $6,716.50 occurred when the price reached $532.80, indicating a strong bullish momentum overpowering short sellers.
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As of now, TAO is trading at $441.36, reflecting a slight increase of 0.995% from the previous close.
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Technical Analysis:
Support Levels: $165.00 and $230.00
Resistance Levels: $490.00 and $650.00
The recent breakout above the falling wedge pattern, accompanied by strong bullish candlesticks, suggests a potential reversal and renewed buying interest.
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Trading Strategy:
Buy Zone: Consider entering between $430.00 and $450.00, aligning with current price levels and recent support.
Target: Aim for $490.00, the next significant resistance level.
Stop Loss: Set at $420.00 to mitigate potential downside risks.
