🧠 Most people panic-sold $TAO last week. Here's why that might've been the wrong move.
The 7-day chart looks brutal, down over 14%. But zoom into the 1H and a completely different story is forming. The selling volume dried up. RSI crawled out of oversold. The MACD histogram is contracting from the negative side, inching toward a potential crossover. This isn't a confirmed reversal, but it has the fingerprints of one.
$TAO just flushed out weak hands into a known demand zone between $210–$220. The Bollinger Bands are squeezing. When that compression releases, and it always does, the direction of the breakout will matter more than anything else right now. The bias, given the volume exhaustion and early momentum recovery, leans long.
📐 SETUP: $TAO
Entry: $216 – $220
Stop Loss: $204
Target 1: $232
Target 2: $248
R:R — 1:2.3
#CryptoTrading #bittensor #BinanceSquare
🗣️ Drop your opinion below: Do you think TAO holds above $210 and squeezes up to $245, or is another flush to $175 coming first? Bullish or bearish on Bittensor right now?
⚠️ DISCLAIMER: This is my personal analysis only. Not financial advice. Crypto is high-risk. Always do your own research. DYOR.