Bittensor Price Prediction: TAO Pumps Another 6% and Is Up 60% in a Month, But This Cloud Mining Rig Can 10x Bitcoin Bull Run

He Request Sort The price rose more than 6% in the last 24 hours to trade at $87.30 at 5:40 a.m. EST, as investors rushed to buy the ai-focused project.

This gain in Bittensor price over the last trading day also boosted the altcoin’s monthly performance to over 60%, also making it one of the best monthly performers in the cryptocurrency market.

Bittensor Price Technical Overview

Daily chart for TAO/USDT (Source: TradingView)

TAO is trying to challenge the main resistance level of $94.85. If it is able to close a daily candle above this point in the coming days, then the bulls could continue to push the cryptocurrency’s price up thereafter. In this bullish scenario, TAO could rise to $107.65 in the short term.

Traders and investors will want to take note of the fact that a growing gap has emerged in CAT daily chart. This particular chart pattern suggests that the altcoin price could undergo a sharp correction soon. If this pattern is validated, then the altcoin value may attempt to retest the immediate support level, which sits at $75.10.

Continued selling pressure once TAO falls to this mark could lead to TAO breaking below this crucial price point. This will expose it to the risk of falling further in the coming days, with the downside target placed at $59.70.

Technical indicators in ai–crypto-gems-recommended-by-bitcoin/”>CAT The daily chart suggests the presence of strong bullish momentum. As the altcoin price continues to trade within the rising wedge pattern, traders may want to keep an eye on a possible bearish trend reversal.

A possible change in trend

The daily Relative Strength Index (RSI) indicator signaled that TAO was in overbought territory. Bears generally start selling a cryptocurrency once its RSi reaches this zone, as its downside potential is much greater than its upside potential. A possible early indication that TAO’s positive trend is coming to an end may be when the slope of the daily RSI line changes from positive to negative, which could indicate that buyers were starting to lose strength.

Traders will also want to pay attention to the daily Moving Average Convergence Divergence (MACD) indicator on the TAO daily chart. More specifically, the gradient of the MACD histogram was turning from negative to positive, which may be a sign that the TAO trend was entering a bearish reversal phase.

While TAO is currently at risk of a sharp correction, bitcoin Minetrix could be the next project that generates 10x returns for early investors.

Taking advantage of the btc hype

bitcoin Minetrix is a decentralized cloud mining platform that implements a unique mining participation model. This innovative approach makes bitcoin (btc) cloud mining as simple as staking tokens.

Anyone who wants to get started will need to purchase BTCMTX, the project’s native token, on its official website. Once purchased, these tokens will need to be staked in exchange for gas rewards. These rewards are ERC-20 tokens that must be burned so that BTCMTX holders can claim a share in the platform’s mining power.

picking out #BitcoinMinetrix To mine without effort!

Through cloud mining, say goodbye to worries about reselling equipment.#BTCMTX handles updates, allowing users to focus on their $btc Travel without the hassle of outdated hardware. pic.twitter.com/eT3BGAq4Wu

—Bitcoinminetrix (@bitcoinminetrix) October 31, 2023

Given the growing hype surrounding btc due to several btc spot exchange-traded fund (ETF) applications entering the market, it is only a matter of time before the price of the market leader soars. bitcoin MinetrixWith its primary focus on simplifying btc cloud mining for everyone, it is perfectly positioned to benefit from the growing demand for btc.

Adding to the project’s potential is the upcoming btc halving event, which will make it more difficult to mint new btc coins.

bitcoin Minetrix Therefore, it is set to capitalize on the growing demand and scarcity of btc, and could become the de facto cloud mining project for anyone looking to generate passive income through btc cloud mining.

Related Posts:

New crypto mining platform: bitcoin Minetrix

<img class="inContentProviderSingle–img mb-3" alt="bitcoin Minetrix” width=”125″ height=”60″ src=”https://technicalterrence.com/wp-content/uploads/2023/11/Bittensor-Price-Prediction-TAO-Pumps-Another-6-and-Is-Up”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>

• Audited by Coinsult
• Secure and decentralized cloud mining
• Earn free bitcoin daily
• Native Token on Pre-Sale Now – BTCMTX
• Staking Rewards: Over 100% APY

<img class="inContentProviderSingle–img float-right" alt="bitcoin Minetrix” width=”125″ height=”60″ src=”https://technicalterrence.com/wp-content/uploads/2023/11/Bittensor-Price-Prediction-TAO-Pumps-Another-6-and-Is-Up”https://technicalterrence.com/crypto/bitcoin/”>bitcoin-minetrix.svg”/>bitcoin-minetrix.svg” alt=”bitcoin Minetrix” width=”125″ height=”60″/>