Market Overview for Bittensor/Bitcoin (TAOBTC) – 2025-09-22

• TAOBTC declined by -22.2% over the past 24 hours, with a low at 0.002685 and closing near 0.002759 at 12:00 ET.
• Volatility expanded significantly, with a 15-minute range of up to 0.000036 and a total volume of 510.1029 BTC.
• Downtrend accelerated after 00:00 ET with a sharp drop to 0.002685, signaling bearish momentum.
• RSI fell below 30, suggesting oversold conditions, while MACD remained negative with bearish divergence.
• Bollinger Bands widened, and price closed near the lower band, reinforcing potential for further downward testing of support levels.

24-Hour Summary

At 12:00 ET on 2025-09-22, TAOBTC opened at 0.002958, reached a high of 0.002962, a low of 0.002685, and closed at 0.002759. Total volume was 510.1029 BTC, with a notional turnover of approximately $1,417.90 at the closing Bitcoin price of $65,000. The pair recorded a -22.2% decline over the past 24 hours, with sharp sell-offs from late night through early afternoon. Volatility increased as price tested multiple support levels and closed near the lower Bollinger Band.

Structure & Formations

Price action on TAOBTC unfolded in a series of bearish patterns, including a long lower shadow doji at 01:30 ET and a bearish engulfing pattern at 02:45 ET. A key support level emerged near 0.002750–0.002760, where price rebounded after the 06:00 ET low. Resistance levels at 0.002800 and 0.002840 were decisively broken, confirming the breakdown of a short-term consolidation. The price may continue testing 0.002700 as the next key support level.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages (SMA) both declined sharply after midnight, reinforcing the bearish bias. The 50-period line crossed below the 20-period, indicating a bearish crossover. On the daily chart, the 50/100/200 SMA structure remained bearish, with no signs of reversal yet. Momentum indicators showed strong bearish divergence: MACD remained negative and RSI dropped to oversold levels, but the bounce off 0.002750 may not confirm a reversal unless it closes above the 50-SMA.

Bollinger Bands and Volatility

Bollinger Bands expanded significantly during the 06:00–08:00 ET window, with volatility peaking at 0.000036. Price closed near the lower band at 12:00 ET, suggesting a potential rebound or a continuation of the downtrend if bearish momentum remains strong. The volatility expansion suggests a high-probability move, either down to test 0.002700 or up to retest the 0.002760–0.002770 range, with the latter being more likely in a retracement scenario.

Volume and Turnover

Volume surged dramatically after 00:00 ET, with a peak of 163.2976 BTC at 06:15 ET, coinciding with the low of 0.002685. This suggests strong institutional or algorithmic selling pressure. Turnover increased in tandem, confirming the price decline. However, volume began to wane after 07:00 ET, and the subsequent bounce from 0.002750 occurred on moderate volume, which may suggest a lack of conviction. A higher-volume follow-through to either side would be necessary for a confirmed reversal.

Backtest Hypothesis

Given the bearish divergence in RSI and MACD, along with the support bounce at 0.002750, a short-term retracement could be considered. A backtest strategy could involve entering a long position on a close above 0.002760, with a stop below 0.002740 and a target near 0.002780–0.002790. Alternatively, a short trade could be triggered on a break below 0.002750, with a stop above 0.002760 and a target near 0.002730–0.002720. These levels align with Fibonacci retracements of the recent swing high at 0.002870 and low at 0.002685. The MACD crossover and volume divergence are strong signals that could validate such a strategy if followed by higher conviction volume in the next 24 hours.