BTC31011

07/30 07:54

Bittensor (TAO) to Rebound from Current Dip? This

Bittensor (TAO) to Rebound from Current Dip? This Fractal Pattern Says Yes!

The broader crypto market is experiencing a pullback after Ethereum (ETH) broke through multi-year resistance near $3,940 before sliding to $3,825. The drop has led to a red day for many altcoins, including Bittensor (TAO), which is down 6% today, paring its monthly gains to 12%.

But beyond this short-term weakness, TAO’s daily chart is showing a promising structure that could point to a bullish reversal. A familiar fractal pattern from late 2024 appears to be repeating itself, and if it plays out in a similar fashion, TAO could be on the verge of another explosive move.

  Fractal configuration indicates a bullish reversal

On the daily timeframe, TAO forms an almost identical structure that triggered the 104% rally in 2024. This rally was built on a classic inverted head and shoulders pattern. The breakout then occurred after a corrective move into the right shoulder, where TAO found strong support at the 50-day moving average. From this springboard, the price rushed upward and confidently broke through the neckline resistance level.

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