#TAO BREAKS OUT AFTER ESTABLISHING THIS LEVEL AS A NEW MAJOR SUPPORT!
TAO has made a surging wave after rebounding from the demand zone where extreme levels of concentration of buy orders are present. We've initiated a sell order at 346.24 key level where we have earned a 35.98% profit. It didn't stop there as we've recognized TAO's long-term aspect by acknowledging that it has almost the same qualities as FET. Therefore, adding likelihood to its surge. If you also look from the 215-262 price range. You can see a breakout that has occurred which is considered to be the high of last year. This has in turn been established as a new support as evident with the surge that happened from those price range. Hence, the reason why we took a long trade with a profit of 169.76% that has only a 12.89 risk-reward ratio.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
