TAOJPY Bounces From 26000 On Surging 08:15 ET Volume

Summary
• Price tested key support at 26000 before rebounding to close near 26357 after a sharp early morning pullback.
• Volume spiked at 08:15 ET with 6.67k units traded, confirming a bullish reversal pattern.
• RSI approached oversold territory early, suggesting potential for a short-term rebound.
• Bollinger Bands showed a tight squeeze overnight followed by a moderate expansion post-08:00 ET.
• Fibonacci 61.8% level aligned with 26357, acting as a psychological pivot for buyers.

At 12:00 ET on 2026-02-08, Bittensor/Yen (TAOJPY) opened at 26841, reached a high of 26871, dipped to a low of 25840, and closed at 26357. Total volume was 20.84, with a turnover of 540,970.94.

Structure & Formations

The price action formed a clear bearish breakdown from 26841 early on, followed by a sharp rebound from the 26000 support level. A bullish engulfing pattern formed at the 08:15 ET candle, indicating a potential short-term reversal.

Moving Averages

On the 5-minute chart, price briefly crossed above the 20-period moving average after the 08:15 ET reversal. The 50-period line remained in the 26300–26500 range, suggesting mixed signals between short-term buyers and longer-term caution.

MACD & RSI

The RSI reached 28 early in the session, hinting at oversold conditions, which aligned with a rebound. The MACD turned positive post 08:15 ET, supporting the momentum shift.

Bollinger Bands

Volatility was unusually low overnight, with Bollinger Bands narrowing significantly. After 08:15 ET, volatility expanded as price broke above the middle band, indicating increased participation from buyers.

Volume & Turnover

Volume remained near zero for most of the session until the 08:15 ET candle, where a large 6.67k volume surge coincided with a strong price rebound. This confirmed the bullish breakout.

Fibonacci Retracements

The 61.8% Fibonacci retracement level aligned with 26357, which became a focal point for buyers. Price found temporary support at this level before consolidating.

Looking ahead, TAOJPY may face resistance at 26504 and 26700 in the next 24 hours. Investors should monitor the 26000 level for further signs of support strength. As always, sudden news or market shifts could disrupt this pattern.