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Did $TAO just confirm a local top or is this a discount?
We had a solid bounce from the 216 lows, but things just got messy at the 231 resistance. That big red candle right after the spike shows there are still plenty of sellers waiting up there.
Right now, we're hovering around 226. If we can't find some buying strength here, I'm expecting a slide back down to test the 222 area.
Volume is okay, but it's not screaming "breakout" yet. I'm staying patient. If we flip this current level into support, I'll look for another run at 230, but for now, it feels like the bears are putting up a fight.
Keeping a close eye on the next few hourly closes.
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