- Bittensor trades near a bullish order block after a 65 percent drop, as long-term structure faces a decisive test
- The 0.618 Fibonacci zone near $262 defines trend safety,, while failure below $228 risks a deeper drawdown
- Analysts map upside targets from $725 toward $2000 if buyers defend current support zones
Bittensor price action entered a decisive phase after a sharp retracement erased more than 65% from its all-time high near $539. Current trading levels sit near $296 as market structure compresses around a long-term support zone. Technical positioning now centers on whether buyers can defend key Fibonacci and order block levels that define the broader trend.
The chart shared by CryptoPatel shows TAO trading inside a multi-month range following a high time frame reset. Price previously peaked above $500 before entering a prolonged corrective channel that guided the drawdown. This move aligned with a classic high time frame reset pattern often seen before continuation or deeper trend failure.
At present, the focus rests on the bullish order block marked between $215 and $262.
This zone overlaps with the 0.618 and 0.786 Fibonacci retracement levels drawn from the prior impulse. According to the analysis, this area represents the final technical defense before broader structure risk emerges.
Key Levels Define Structure Risk, and Continuation
The most important level on the chart remains $228. Acceptance below this price signals a structural breakdown and opens risk for a deeper drawdown toward sub $100 levels. CryptoPatel notes that loss of this support would invalidate the bullish continuation setup.
The 0.618 Fibonacci level near $262 serves as the immediate pivot for trend stability.
Holding above this level keeps the bullish order block intact and supports a potential base forming. Repeated reactions near this zone suggest buyers continue to absorb sell pressure.
Above the current price action , the chart marks a resistance zone near $420 to $450.
This region capped upside attempts during previous rebounds and aligns with prior distribution. A reclaim of this zone would confirm strength and shift momentum toward higher targets.
The first upside objective sits near $725, which aligns with a prior structural high.
Beyond that, the chart maps extensions toward $1200 and $2000 under a sustained bullish expansion scenario. These targets reflect measured moves based on previous cycle behavior rather than short-term speculation.
Market Context and Expansion Scenario
The broader structure shows Bittensor transitioning from correction into potential accumulation. Price compression within the bullish order block often precedes expansion when demand remains consistent. Analysts describe this phase as an alt season expansion zone where patience outweighs emotion.
CryptoPatel emphasizes that emotional trading during this phase often leads to poor execution. The chart instead favors level-based decisions driven by structure and Fibonacci alignment. Risk remains clearly defined while upside potential expands asymmetrically if support holds.
The analysis also points to previous cycles where similar resets preceded multi-leg advances. However, confirmation depends entirely on acceptance above $228 and sustained bids above $262. Failure at these levels shifts probability toward deeper retracement and invalidates upside projections.
With price still below major resistance, the setup remains conditional rather than confirmed. Market participants now monitor reaction at support for signs of higher lows and expanding volume. Can Bittensor defend this zone and convert a high time frame reset into its next expansion leg?
