Sell TAO/USDT Channel Breakout H4 
2024-10-16

The TAO/USDT pair on the H4 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Days

Key Points:

Sell Entry: Consider entering a short position around the current price of 607, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.

Target Levels: 
1st Support – 494
2nd Support – 422

Stop-Loss: To manage risk, place a stop-loss order above 687. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

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