$TAO LONG TRADE SETUP
#tao has been in the consolidation zone, however there’s potential ready for a bull run, if buyers step in.
• Price: $444.4 (+2.25%)
• 24H High/Low: $453.6 / $425.5
• RSI (6): 45.0 → Mildly bearish/neutral
• RSI (24): 50.8 → Midline, no strong trend
• Stoch RSI: 41.9 → Approaching oversold, but not quite there
🔍 Technical Observations
• Support: ~$425.5 (recent swing low)
• Resistance: ~$453.6 (24H high), $449.7 (near-term rejection level)
• Current Zone: Consolidation around $441–$445
• Volatility Spike: Seen earlier today around 08:50 with a wick to ~$449
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✅ Potential Trade Setups
1. Range Trade (Short-Term Scalping)
• Buy Zone: $441–$443 (near current price; consolidation support)
• Sell Zone: $448–$450 (resistance test)
• Stop Loss: Below $438
• Risk/Reward: ~1:2
2. Breakout Trade (Bullish Continuation)
• Entry: On breakout above $450 with volume
• Target 1: $453.6 (24H high)
• Target 2: $460–465 (next fib/psychological zone)
• Stop Loss: Below $444 (depending on entry)
3. Reversal Short Setup (Bearish)
• If price rejects at $449–$450 and RSI/Stoch turns down:
• Entry: Short from ~$448–$449
• Target: $435
• Stop Loss: Above $453.6
📉 Indicators Bias
• RSI: Neutral; not in oversold/overbought zone
• Stoch RSI: Near a potential bounce zone
• Volume: Medium, waiting for confirmation
🔔 Summary
You’re currently in a consolidation zone, so be cautious of false breakouts. Wait for confirmation via volume surge or Stoch RSI crossovers. Scalping the range is viable until a breakout above $450 or breakdown below $438.
