TAO Tao Bittensor has formed yet another Falling WedgeCurrent price: $243
For everytime #Tao has formed these falling wedges with Key support around 224, It has been accompanied by an explosive move upwards.
#Tao has also lost over 70% of it's value from an all time high of 795. So it is low risk.
Expecting retest of these supports: 370, 578
This idea Invalidation under 224!
More Extensive Analysis:
This chart is showing the price action of
TAO (Bittensor) against USDT on a weekly timeframe, traded. Here’s a more extensive analysis based on the provided chart:1. Falling Wedge Pattern
- The chart highlights a falling wedge pattern, characterized by converging downward-sloping trendlines.
- Falling wedges are typically bullish reversal patterns, meaning a potential breakout to the upside could occur.
- The previous falling wedge led to a strong rally, suggesting a similar scenario might unfold.
2. Current Price & Key Levels
Current Price: $243
Support Levels:
Most recent low $224
Resistance Levels:
$260 - $285** (near-term resistance)
$370 - $380 (tp1 - Take Profit 1)**
$578 - $600 (tp2 - Take Profit 2)**
$794 (long-term resistance)**
3. Key Takeaways & Trade Outlook*
- If the price breaks out above the falling wedge, a bullish move toward $370+ is possible.
- If the price breaks down further, the next major support is around $224.
- Traders might look for **confirmation** of the breakout before entering long positions.
ノート
TAO idea still validトレード稼働中
TAO idea active...ノート
370 incoming? 
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