Trading signal : BITTENSOR ($TAO) - 1D - FALLING WEDGETechnical Analysis:
The price is trading within a Falling Wedge pattern, a formation that typically leads to a bullish breakout. However, confirmation is needed. A breakout above the upper trendline could trigger a rally toward $575 resistance, while a bearish breakdown may lead to further downside toward $300 support.
Momentum indicators remain neutral, with RSI-14 in a balanced range (between 30 and 70), suggesting no extreme overbought or oversold conditions.
Entry Zone:
Bullish Scenario: Enter on a confirmed breakout above the Falling Wedge, targeting $575.
Bearish Scenario: A breakdown below the wedge could push price down to $300.
Targets (Take Profit):
TP1: $575 (+30%).
TP2: $675 (if momentum sustains).
Stop Loss:
Below $290
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