Market Overview for Bittensor/Bitcoin (TAOBTC) – 2025-09-18

• TAOBTC formed a bullish reversal pattern on the 15-minute chart around 0.003005.
• Price moved from a low of 0.002972 to a high of 0.003099 amid increased volume.
• Momentum surged with RSI rising above 55 and MACD showing positive divergence.
• Volatility increased, with price touching the upper Bollinger Band at 0.003099.
• Volume spiked 3x during 03:00–04:00 ET as price consolidated near 0.00308–0.00309.

Bittensor/Bitcoin (TAOBTC) opened at 0.002972 on 2025-09-17 12:00 ET, reached a high of 0.003099, and closed at 0.003082 at 2025-09-18 12:00 ET. Total volume across the 24-hour window was 338.97 BTC, with notional turnover of $1,031.20 million (assuming Bitcoin price of $30,000).

Structure & Formations

Price action revealed a key support zone near 0.003005–0.003011, where price reversed multiple times. A bullish reversal pattern formed after a bearish 15-minute candle at 20:45 ET. A doji appeared at 01:30 ET, signaling indecision ahead of a consolidation phase. The 0.00308–0.00309 level now appears to act as a dynamic resistance, having been tested twice with mixed results.

Moving Averages

On the 15-minute chart, the 20-period MA (0.003029) crossed above the 50-period MA (0.003016), indicating a short-term bullish bias. Daily MAs suggest the 50-period MA at 0.002998 is acting as a critical support. The 200-period MA at 0.002965 remains below current price, suggesting an ongoing long-term uptrend.

MACD & RSI

The MACD crossed above the signal line at 00:30 ET with a histogram expanding into positive territory, confirming bullish momentum. RSI climbed to 58 from 48 over the same period, moving closer to overbought territory. However, volume failed to confirm a breakout above 0.003099, suggesting caution for overbuying.

Bollinger Bands

Price brushed the upper Bollinger Band at 0.003099 (20-period, 1.5σ) during the 03:00–04:00 ET consolidation. Volatility expanded during the breakout attempt but has since contracted as price pulls back into the middle band. A contraction in the bands at 01:30 ET suggests a potential continuation of the upward trend.

Volume & Turnover

Volume surged to 31.4371 BTC during the 03:00–04:00 ET session as price pushed toward 0.003099. However, the price failed to close above this level, suggesting a potential divergence. Turnover spiked during the 18:15–19:00 ET session, confirming earlier buying pressure. The most recent price action shows a return to lower volume, indicating a pullback or consolidation phase.

Fibonacci Retracements

On the 15-minute chart, the 61.8% retracement level of the prior bearish leg (0.002995–0.003002) sits at 0.003000, currently acting as a minor support. On the daily chart, the 38.2% retracement of the 0.002963–0.003099 move aligns with the 0.003047 level, which appears to have held during the early morning pullback.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions on TAOBTC when price breaks above the 20-period MA with confirmation from the 50-period MA, and MACD shows a positive crossover. Stop-loss is placed at the 20-period MA, and take-profit is set at the upper Bollinger Band. This approach would target short-term momentum while managing risk through defined exits. Given today’s price action, such a strategy would have generated a trade at 00:30 ET, aligning with the observed bullish divergence in MACD and RSI.