Trading Update $TAO
We have analyzed the market data and here are some interesting points for the TAO/USDC pair:
Bullish Momentum: The price has broken out of the higher Value Area, indicating strong buying pressure. We are currently testing the highs of 467.
Significant Volume: Volume was extremely high on January 27, suggesting significant institutional interest or profit taking.
Upside Target: If the upside momentum continues, the next equilibrium target is at 520.0!
Recommended Trading Strategy:
Long Position: Consider entering a long position on a retracement near the POC level at 446.3 if supported. Stop-loss below 440.
Take Profit: Start taking incremental profit towards the recent highs around 467 and then towards the target of 520.0.
Warning: Stay up to date with technical indicators to confirm each trend and remember to manage risk carefully!
Happy trading everyone, and keep an eye on the markets!