$TAO coin on January 29, 2025, based on technical evaluation:
Technical Indicators
1. Relative Strength Index (RSI): 75.41 (Overbought)
2. Moving Average Convergence Divergence (MACD): Bearish crossover
3. Stochastic Oscillator: 85.69 (Overbought)
4. Bollinger Bands: Price touching upper band
Chart Patterns
1. Double Top: Formed at $441 and $450
2. Rising Wedge: Broken downwards
Trade Signals
1. Entry: Short TAO at $460.9
2. Stop Loss: $450.5
3. Take Profit: $475 - 85
Risk Management
1. Risk-Reward Ratio: 1:2
2. Position Sizing: 5% of trading capital
Please note that these signals are based on technical analysis and are subject to change. Its essential to do your own research, consider multiple sources, and use proper risk management techniques before making any trading decisions.
Disclaimer: This is not investment advice. Trading cryptocurrencies carries significant risks, and you may lose some or all of your investment. Always consult with a financial advisor before making any investment decisions.
$TAO #TAO @TreasureDAO #bittensor