Market Overview for Bittensor/Bitcoin (TAOBTC): October 6, 2025

• TAOBTC declines to 0.002539 before staging a late recovery, closing at 0.002612 near the session’s high.
• Volume spikes during the 8:00–9:15 PM ET sell-off, but turnover failed to confirm further weakness.
• RSI near neutral territory suggests a pause in momentum, while Bollinger Bands hint at low volatility.
• Price remains below the 20-period MA on the 15-minute chart, with no strong reversal patterns yet.
• Fibonacci levels suggest potential support near 0.002584 and resistance at 0.002622 for near-term action.

Price Action and Volume Trends

Bittensor/Bitcoin (TAOBTC) opened at 0.002619 on October 5, 2025, and traded as low as 0.002539 before closing at 0.002612 on October 6. The 24-hour range was 0.002538–0.002624. Total traded volume was 125.57 BTC, with a notional turnover of $331.69 million. The pair spent much of the day in consolidation before a sharp drop from 0.002584 to 0.002539, followed by a modest rebound toward key resistance levels.

Volume surged between 8:00 PM and 9:15 PM ET, with a large candle showing a 0.002584–0.002539 move, but the price failed to follow through on that bearish signal. The volume and price action appeared somewhat divergent, with volume declining after the sharp drop.

Structure and Key Levels

Key support levels formed around 0.002584 and 0.002553, with the former being a prior high during the recovery. Resistance is clustering at 0.002608–0.002622, where the price repeatedly failed to break through in the final hours. A notable bearish engulfing pattern occurred during the 5:30–6:45 PM ET drop, but it lacked follow-through. A bullish hammer developed during the 2:15–3:30 AM ET session as the price rebounded from the morning lows.

The 20-period and 50-period moving averages on the 15-minute chart both remain below the current price, suggesting a potential short-term reversal may be in play, though bearish momentum still dominates near-term structure.

Volatility and Momentum

Bollinger Bands showed a slight expansion during the sell-off but have since contracted, signaling a potential pause in volatility. Price remains near the upper and middle bands during the morning and late-night recovery, suggesting a continuation bias if the move above 0.002622 is confirmed.

The RSI is near 50, indicating a neutral momentum phase. While overbought conditions have not yet developed, the indicator’s flatness suggests a lack of conviction in either direction. MACD has flattened as well, suggesting that the bearish momentum of the prior hours has weakened, though a bullish crossover has not yet formed.

The 50-period MA on the daily chart is currently below the current price, suggesting a slightly bearish bias over the medium term. However, the 20-period MA shows a recent upward tilt, which may indicate early accumulation.

Backtest Hypothesis

The backtest strategy described focuses on a combination of RSI divergence and key Fibonacci levels to identify potential reversal points. By applying RSI divergence during the late-night drop and Fibonacci retracement levels from the 0.002538–0.002624 swing, the strategy would have signaled a potential short-term reversal from 0.002584. The bullish hammer and volume contraction at that level could have acted as confirmation. A stop-loss below 0.002553 would have protected against a deeper correction. The recent move back above 0.002612 may provide early confirmation for a breakout strategy, with a target at 0.002631.