Bittensor (TAO) chart shared by The Wyckoff Architect suggests something big could be brewing. According to their analysis, TAO is forming a massive double bottom on the daily chart.
This classic pattern happens when a price tests a support level twice, creating two rounded lows that look like a “W” shape. If the price confirms the breakout above the neckline resistance of this pattern, it usually signals a strong bullish reversal.
On the chart, we can see that after establishing the double bottom, Bittensor price has started to form higher highs, which is a key sign of an emerging uptrend. The analyst highlights that the next macro target for TAO could take it above $1,000 if the bullish momentum continues. This is supported by the overhead trendline drawn on the chart, which extends from previous highs and points toward a possible breakout zone.
The inset image on the chart further illustrates how double bottoms tend to play out, showing that once the neckline breaks, the price often surges by an amount roughly equal to the height of the double bottom formation itself. This gives more weight to the possibility that TAO price could see a substantial rally if buyers step in at current levels.
Consolidation Within an Ascending Channel Suggests Strong Support
Looking deeper into the second chart, we find additional evidence backing the bullish scenario. The price has been consolidating within a broad ascending channel. The zoomed-in section of the chart shows that TAO is currently hovering near the lower support of this channel, which has held up well so far. If this level acts as a springboard, we could soon see the price move higher and continue a series of higher lows and higher highs.
Moreover, the upper boundary of the channel is sloping upward, suggesting that if the trend stays intact, Bittensor price might revisit the $1,000 area over the coming months. The fact that the recent price action is respecting this trendline shows the market is still honoring this long-term bullish structure.
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In conclusion, Bittensor’s charts present a compelling case that TAO could be on the verge of a significant move higher. The double bottom pattern signals a major trend reversal, and the developing higher highs alongside the ascending channel structure give further confidence that TAO price might rally towards $1,000 if buyers remain committed. This setup could mark the start of the next big leg up for Bittensor this cycle.
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