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Taousdtperp

Buying $TAO Retrace with Fibonacci LevelsKUCOIN:TAOUSDT had an incredible move up last month, nearly 2x from the mid-300s to a high of $480. We've hit a short term high, and seem to be in a consolidation phase. How low will this go? Well, if we look at the Fib Retracement levels from the start of this run up to the recent high, we can identify three likely entry points: $385 $360 $315 If you want to invest in Bittensor's innovative AI technology, you can buy at market price right now; or, you can set limit orders for the levels above, to DCA into your position. Just keep in mind, the price may not reach these lows, and could turn bullish again at any monent. If/when Binance lists this token, or Coinbase finally changes its flawed ranking on it, or a major tech company announces a partnership, this token could moon. 🚀
Long
by tokentradertv
1
TAO – No Reversal Signal, Yet. From October 20th to December 14th, TAO increased by more than 700%. In the past 19 days, TAO has been in a correction. Until today, TAO pulled back a bit more than 42%. I am looking for a relationship between the time in the uptrend and the downtrend. Currently, we have 56:19. Meaning one day of correction for three days of appreciation (3:1). Is it enough? I can’t say for sure, but there is symmetry, which is a good sign. As for the retracement. Do we have a signal that the correction is over? Not yet. The price almost reached the 50% retracement, but the reaction is weak and does not show a bullish impulse. Currently, the price is hovering below the 38.2% retracement, and it doesn’t look like it has enough momentum to break through. The RSI is in a downward-sloping channel. A breakout from the channel could signal a bullish reversal. As for the price, it is in a Descending Channel. The initial breakout of this pattern is the origin point at the 400$ mark. A touch and rebound of the 50% retracement or the channel's support line could be a long trigger, but I would like at least one more confluence factor, such as a bullish divergence and a reversal candlestick pattern. At the moment, the best course of action is no action. Wait.
by NewThoughtCrypto
1