The Bittensor token has shown promising technical signals as it completes a bullish reversal pattern. With key resistance levels now broken, TAO appears poised for significant upward movement in the coming days.
TAO has formed an inverse head and shoulders pattern, one of the most reliable bullish reversal setups in technical analysis. This development comes at a crucial time for the cryptocurrency market, which has seen mixed performance across various assets.
What you'll learn 👉
Bittensor’s Inverse Head and Shoulders
The TAO/USDT chart on the 4-hour timeframe reveals a clear inverse head and shoulders formation. This pattern developed with the left shoulder forming between March 31 and April 2, followed by a deeper low (the head) on April 6-7, and finally completing with the right shoulder between April 9-10.
The setup also shows a decisive neckline breakout near the $240 level. This former resistance has now flipped to support, creating a solid foundation for further gains.
Key Support and Resistance Levels for Bittensor (TAO)
For traders tracking this movement, several critical price levels should be monitored:
The newly established support zone at $240.1 (the former neckline) provides the first line of defense against any pullbacks. Below that, $232.5 marks another significant support level where previous shoulder formations found buyers.
Looking upward, the immediate resistance sits at $278.5, which represents a local high from March 26. This aligns perfectly with the measured move projection derived from the pattern itself.
Read Also: How Much Will 2,000 Bittensor (TAO) Tokens Be Worth If Bitcoin Dips to $70K
The distance from the head to the neckline measures approximately $37.8. Adding this to the breakout point around $240 gives us a target near $278—remarkably close to the existing resistance level.
Based on the completed pattern and confirmed breakout, TAO next logical target sits at $278.5, representing a potential gain of 15.75% from the breakout point.
Multiple bullish signals support this outlook, including the strong neckline breakout with momentum, the clearly defined inverse head and shoulders pattern, and former resistance now acting as support.
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