Bittensor(TAO) Long idea
2024-11-04

I'm planning a major long position on TAO if we see a price drop to the key support area around $350. This level aligns well with previous support zones and could offer a solid entry point if the market pulls back. If this entry is taken, I’m setting an invalidation level at $280—meaning this would be the point to cut the trade if price dips below, especially for those using leverage.

The analysis shows a possible bullish trajectory towards $681 and $756 as TAO continues to gain strength. Also the thinner yellow line could be seen as take profits! With the overall market moving further into a bull phase, I believe TAO is positioned as one of the top contenders within the AI space, making it an attractive asset to accumulate.

This setup is based on strong support/resistance levels, and Market Liberator B is also showing oversold conditions, adding extra confluence to this potential entry zone.