$TAO

🚀 TAO on the Move: Breakout Levels & Trading Strategies You Need to Know! 💥

$TAO

TAO

444.3

-0.53%

TAOUSDT

Perp

443.42

-0.72%

Hey Binance Square Fam! 👋

Bittensor ($TAO) is making waves in the crypto market, currently trading at $446.44, with a 0.34% increase today. After a recent 15% surge following a breakout from a descending channel, TAO is now testing the critical $450–$480 resistance zone.

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🔍 Key Technical Levels to Watch

Resistance Zones:

**$450–$480**: Multiple rejections have occurred here; a daily close above $480 could signal further upside.

**$500**: Psychological barrier and next target if $480 is breached.

Support Levels:

**$460**: Immediate support where buyers have previously stepped in.

**$440**: Next support level if $460 fails to hold.

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📈 Chart Patterns & Indicators

On the 2-hour chart, a symmetrical triangle is forming, indicating potential for a breakout or breakdown. Momentum is building, so keep an eye on volume spikes for confirmation.

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🎯 Trading Strategies

Bullish Scenario:

Entry: Wait for a breakout above $480 with strong volume.

Targets: $500 and beyond.

Stop-Loss: Below $460.

Bearish Scenario:

Entry: If price drops below $460, consider short positions.

Targets: $440 and lower.

Stop-Loss: Above $480.

Range Trading:

Buy: Near $460 support.

Sell: Near $480 resistance.

Stop-Loss: Tight stops to manage risk.

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🧠 Pro Tips

Volume Confirmation: Always look for volume spikes to confirm breakouts or breakdowns

#WCTSurge