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LedgerBull

$TAO showing continued downside pressure with weak intraday structure.


Structure remains bearish with sellers maintaining control.

EP
240.00 - 243.00

TP
TP1
236.00
TP2
232.00
TP3
225.00

SL
246.00

Recent drop swept liquidity below and price is failing to reclaim prior support. Any bounce into the entry zone looks like a reaction into supply, with structure favoring continuation as long as lower highs persist.

Let’s go $TAO ‌
TAO-4,22%
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VinylRadioProphecy
· 04-17 23:54
Agreeing on "lower highs," before the structure reverses, the bulls are all fighting against the trend.
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GateUser-06596f3b
· 04-17 05:44
The key to this plan depends on whether there is an obvious rejection pattern around 240-243; if there is no rejection, then don't force a short position.
View OriginalReply0
GateUser-470bc925
· 04-17 05:00
I'm also watching TAO, waiting for it to bounce back to the previous support before making a move. Currently, the bears have a strong grip.
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GateUser-53a6e1a8
· 04-16 18:18
236 This one might experience a slight rebound, and taking profits in stages is quite reasonable.
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DancingOnTheEdgeOfLiquidation
· 04-16 13:15
TAO has been quite volatile recently; don't hold too large a position. If it breaks below 246, admit your mistake and exit.
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SlippageSamurai
· 04-16 12:19
EP 240-243 this segment indeed looks like a replenishment of supply positions, don't rush to chase the short.
View OriginalReply0
YieldYuki
· 04-16 12:16
I will wait for the 1H/4H reversal signals before considering more; currently, the bearish bias is fine.
View OriginalReply0
CatMarketAnalysisAssistant
· 04-16 12:16
If there's no volume on the rebound and it forms an even lower high, then follow your idea and go with the trend.
View OriginalReply0
RiskParachute
· 04-16 12:16
I checked the liquidity below, and the previous support hasn't been recovered; this is most likely to continue declining.
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Semi-MeltedIceCream
· 04-16 12:16
I think we need to see if 232 can hold first; otherwise, 225 might really have to be seen.
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