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$TAO in bullish consolidation phase, basically correcting but still holding within the uptrend. Not too shabby, but let's see if it holds up. On 1-hour timeframe trading, I'm leaning cautious long, especially on dips to support.
Volume-wise, those recent hourly candles are showing a drop during the pullback from around 294.61 (like the last 4-5 candles with way less action). That tells me sellers aren't going all out. Earlier, during the rally spike with 117k volume – it was clear the bulls were committed.
Capital flows are key here: Spot side looks positive in the short term (from 5m to 4h with inflows), which screams underlying buying to me. But on contracts, we've got big outflows over 6H to 7D (-3.66M to -47M), probably folks unwinding leverage while spot accumulates – that's often a sneaky bullish sign. And lately, those 30m-1H contract inflows (over 1.3M) suggest longs are creeping back in.
For entries longs
$TAO : I'd jump in near 281.55-283.00 USDT where Support level hits the MA20. Don't chase it above 290, though.
Stop-loss: Keep it 3% below your entry, like 273.0 if you get in at 281.55 – that respects Support zone at 276.21 and the 24h low of 278.06.
Targets
$TAO : 291.50 (Resistance level), and if it pushes, up to 294.61 (24h high)
What are your thoughts on TAO? Holding or waiting?
#TAO #TAOUSDT #bittensor