$TAO
Long liquidations at $293.33 confirm downside pressure and forced exits from late buyers. The market structure shows a clear lower-high formation after rejection from higher resistance, signaling continuation risk to the downside. Price is currently trading beneath a key supply region where sellers previously defended aggressively.
EP: $292 – $296
TP1: $278
TP2: $265
TP3: $248
SL: $307
Trend remains bearish as price continues respecting descending resistance and failing to reclaim prior breakdown levels.
Momentum favors sellers with consistent rejection wicks and expanding downside volatility following liquidation events.
Liquidity rests below recent lows, making continuation toward downside targets the higher-probability path.
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