Bittensor (TAO) Update · Bullish Zone, Retrace & Higher High

Bittensor peaked 31-May. This means the project has been sideways now for 78 days. First a retrace and now sideways.

The chart setup overall looks good. The main low happened in April and here the bulls enter the game. We see the end of the downtrend, no new lows. The current retrace has no bearish force and it seems to be running its end. When volume stars to dry and the action becomes flat, a strong breakout follows.

The breakout can be in any direction. We are bullish because the main move is the recovery from April and this recovery is being consolidated. When the consolidation ends we get a continuation which is an advance from my vantage point.

There can be a drop. The drop can be mild or small before growth. There is room for prices to fluctuate. Even with a small drop, or large, TAOUSDT will remain above support and within the bullish zone.

A sudden drop would signal the end of the sideways period and the start of the next bullish wave. If there is no drop the market starts to turn slowly and prints a very big green after 3-5 days up.

We are getting very close now to the next breakout, I am thinking between 5-7 days. Next week for sure we will see the market grow. It is already growing based on the bigger picture, but the last advance is still being consolidated marketwide. This is the phase that is coming to its end. Some pairs did move forward but took a pause with Bitcoin's retrace. This is a small pause. Growth follows next.

Namaste.