$TAO ⬇️
Bias: Short @ 282.17
Downside Stop: 293.79 | TP: 256.55
TAO just broke down and is offering a retest for a short.
- The 1-hour trend is clearly bearish, with price in the DISCOUNT zone of a large range.
- A bearish breakout of the 282.85 support level was confirmed just 3 candles ago, showing fresh momentum.
- The series of lower highs is intact, with the most recent high at 293.79 forming a clear resistance.
- Price is currently retesting the underside of that broken 282.85 level, offering a potential entry.
- The stop is placed above the recent swing high, which would break the pattern of lower highs.
- The target is the next significant swing low and liquidity zone below the current price.
Keep the stop above the recent high and let the downtrend work.
#CryptoTrading #Futures #TAO