Long
Analyzing the Asymmetric Triangle Breakout $BITGET:TAOUSDT
TAOUSDT Reaching a pivotal juncture that will dictate the asset's trajectory. Technical analysis of the daily chart reveals a pattern of descending peaks. Confirmation of the emerging symmetrical triangle on the D1 timeframe could signal a potential retracement to the 0.1400 price zone. The H1 chart exhibits a bullish trend, projecting upwards until the critical resistance level at 0.1900. Short-term trading strategies should consider the H1 timeframe viable only up to this critical threshold. For more extended duration trading, it's advisable to monitor for either a bullish breakout or a bearish rejection at the apex of the asymmetrical triangle on the H1 chart. Should there be a breakout of the triangle on the H1, the secondary target is set at 0.20100.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.