Market Overview for Bittensor/Bitcoin (TAOBTC) – 24-Hour Summary

• Price for TAOBTC declined 1.3% in the past 24 hours, closing at $0.003884 from $0.003913.
• Volatility remained subdued, with a 24-hour high/low range of $0.003426–$0.004218 and moderate volume flow.
• A bearish continuation appeared after a failed bullish breakout in the 15-minute chart near $0.004024.
• RSI signaled overbought conditions in late trading, but failed to confirm further strength.
• Volume increased during the 24-hour high, showing initial strength but not enough to confirm a reversal.

The Bittensor/Bitcoin (TAOBTC) pair opened at $0.003913 on 2025-10-13 at 12:00 ET and closed at $0.003884 at the same time on 2025-10-14. The 24-hour high reached $0.004218, while the low dipped to $0.003426, representing a wide intraday range of nearly 20%. Total volume traded amounted to 4,887.99, with notional turnover reaching $18.92 million. The price path showed signs of consolidation after a sharp rise above $0.004000.

Over the past 24 hours, key resistance levels formed around $0.004024 and $0.004133, where price reversed downward multiple times. A notable bearish formation occurred at $0.004133 when a tall-bodied bearish candle confirmed selling pressure. Support levels emerged at $0.003900 and $0.003750, with the latter showing a temporary reversal but failing to hold. A bearish continuation pattern suggests a probable continuation of the downward trend in the near term.

Bollinger Bands expanded during the price rally above $0.004000, indicating heightened volatility. Price then moved below the lower band during the late-night consolidation, signaling a bearish bias. The 20-period moving average (15-minute) crossed below the 50-period moving average, forming a death cross. The RSI rose into overbought territory during the morning high but declined sharply afterward, indicating fading bullish momentum. MACD showed a bearish crossover in the late afternoon, aligning with the downward price action.

The Fibonacci retracement levels on the major swing from $0.003426 to $0.004218 identified $0.003906 as the 38.2% level and $0.003737 as the 61.8% level. Price failed to find support at the 38.2% level and fell further, hinting at possible continuation toward the 61.8% level. A divergence between volume and price was observed near $0.004024, where higher volume failed to push price higher. This divergence and the failure to hold the 38.2% retracement level may indicate a breakdown in bullish sentiment.

Backtest Hypothesis

A potential backtesting strategy involves identifying and acting on bullish engulfing candlestick patterns. These patterns typically occur at key support levels and may signal the resumption of an uptrend after a bearish consolidation. If applied to the TAOBTC pair since 2022, each signal would trigger a 3-day holding period to assess the outcome. The recent failed rally near $0.004133 and $0.004024 could represent missed or invalid signals, but future occurrences of strong engulfing patterns at key levels could provide high-probability entry opportunities.