TAO Long Spot Trade (Reclaiming Resistance)
2024-11-19

Market Context:
TAO is showing strength by reclaiming key resistance levels as support and attempting to form a higher low. The setup suggests potential for further upside if price consolidates above $450 and reclaims the daily 21 EMA. A break above $600 could lead to price discovery.

Trade Setup:

Entry: Between $450 and $490
Take Profit Targets:
First target: $590
Second target: $760
Third target: $960
Stop Loss: Daily close below $400

This setup aligns with a strong risk-to-reward ratio, leveraging the potential for continuation beyond $600. #TAO