$TAO /USDT BEARISH MOMENTUM AHEAD - KEY LEVELS TO WATCH! 📉🔥
CURRENT PRICE: $164.37 (Down 5.30%)
KEY TECHNICAL LEVELS:
🔻 IMMEDIATE RESISTANCE: ~$177-178** (Previous support, now resistance)
🔻 **STRONG RESISTANCE:** **~$185.50 - $186**
✅ **IMMEDIATE SUPPORT:** **~$162.50
✅ MAJOR SUPPORT ZONE: $154 - $150 (Critical Demand Area)
CHART ANALYSIS: Price has broken down sharply from the $177-178** support cluster and is now trading below it. The structure is **BEARISH** with lower highs and lower lows. The current level near **$164 shows minor consolidation before potential further decline.
TRADE SETUP - SHORT OPPORTUNITY ⚔️
➡️ ENTRY: On a pullback towards $170 - $172 (confirmation on lower timeframe rejection) OR a break below $162.50**.
🎯 **TAKE PROFIT (TP1):** **$154.70
🎯 TAKE PROFIT (TP2): $150.00**
🛑 **STOP LOSS (SL):** **Above $178 (above the broken support/resistance flip zone).
RISK MANAGEMENT:
• Risk only 1-2% of your capital per trade.
• Position size so that potential loss from SL is within your risk tolerance.
• Move SL to breakeven once price reaches TP1.
Stay sharp and trade with the trend! 🚀💥
#TAO #USDT #TradingView #Bearish #Crypto