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$TAO The whales are offloading in this wave, it's not a shakeout. The price has slid from 370 straight down to 240, with all EMAs in a bearish alignment and the MACD showing a death cross pointing down. It's a classic boiling frog scenario.
Trading strategy: No longs, just waiting for a short opportunity on the bounce.
Place limit orders in the 245-248 range; a bounce to this level presents a shorting opportunity. Enter with a light position and set your stop-loss above 252. First target is the previous low at 240; if that breaks, we’re looking at 235.
Anyone going long on this coin is just handing money to the whales. 168 whales are holding short with a 12% unrealized loss and they’re not closing out; what are they waiting for? They’re waiting for you to step in and take the bag.
Don’t fight the trend; a coin in a bearish setup makes any bounce a money-making opportunity. Stand alongside the whales; they’re losing and not bailing, so why should you be scared?
#Gate13thAnniversaryLive