Bittensor (TAO) is forming a textbook falling wedge on the daily chart as of Monday, February 10, 2026, signaling a potential bullish reversal, according to the crypto analyst Satoshi Flipper.
Trading near its all-time lows, the token has attracted attention as a high-reward opportunity. Satoshi Flipper notes that the RSI has dropped to historic lows, highlighting extreme oversold conditions that could precede a sharp upward move.
Source: Satoshi Flipper X Post
A breakout above the wedge’s upper trendline could trigger significant gains, with targets around $500, representing a potential 3X move.
While technical patterns are not guarantees, the combination of historic lows, oversold momentum, and a classic bullish formation makes TAO a key watchlist candidate. Traders are advised to monitor price action closely for confirmation.
Also Read: Bittensor (TAO) Tests Key Support and Eyes $300 Bounce Amid Falling Wedge
TAO Approaches 1.618 Fibonacci Extension Level
According to TradingView, as of Monday, February 9, after reaching its peak in early January 2026, the price attempted to correct but failed to stay above these key Fibonacci points.
Resistance is at 0.236 ($279.54), 0.382 ($265.54), 0.5 ($254.23), and 0.618 ($242.91), where it temporarily rested or reversed back from. The initial drop also points to an ongoing downtrend, as evidenced by consecutive red candles.
Source: TradingView
Currently, the price has moved past the 1.0 Fibonacci level, which is at $206.28, and is close to reaching the 1.618 level, which is at $147.02, indicating that bearish momentum is still strong.
There is a minor consolidation phase at $160-$165, but this does not confirm anything. Overall, it appears that selling pressure is still strong, and prices can continue to fall even further.
RSI and MACD Signal Persistent Bearish Pressure
The RSI currently stands at 28.65, dipping below the oversold line at 30. This shows a period of increased selling activity. While the small increase may indicate a slight recovery or a period of consolidation, the asset is currently oversold.
The 14-period moving average currently stands at 32.18, showing a weak trend but also a period where the asset may stabilize, though short-term selling activity may dominate the trend.
Source: TradingView
The MACD also indicates bearish conditions. The MACD line is at -23.77, which is lower than the signal line at -19.55. The histogram is also negative at -4.22.
It indicates that selling is still ongoing. However, the recent small negative bars suggest that the rate at which selling is declining is slowing down, suggesting that it might turn around in the short term.
Also Read: Bittensor (TAO) Price Stalls Near $191 as Support–Resistance Range Tightens
