If you rotated into $TAO against Bitcoin during the October breakout, you have handed back almost all of it. TAO/BTC topped near 0.0040 in early October. It now trades at 0.00296. That is more than 85% of the entire September to October rally erased in about four weeks. The daily chart looks ugly. Every bounce since the top printed a lower high, and this week's candle broke the 0.0032 shelf that held through late October. But zoom out to the weekly and nothing structural has broken yet. Since spring 2025, TAO/BTC has chopped inside one wide range, roughly 0.0022 to 0.0050. Price sits in the lower half of that range, not below it. Weekly RSI reads 44, which is neutral, not capitulation. Here is the map I am watching on TAO/BTC: Resistance to reclaim: 0.0032 Decision level: 0.0028 Invalidation: a weekly close below 0.0027 0.0028 is the level that matters most. It is the base the October breakout launched from, and this week's wick already dipped toward it. Two details the panic is ignoring. Daily RSI is 33, close to oversold. Volume on this selloff is thinner than the volume that built the rally. Sellers are moving price, but they are not moving it with conviction. If 0.0028 holds and price reclaims 0.0032, the path reopens toward the 0.0036 zone where the October top began to distribute. If 0.0028 fails on a weekly close, the range low near 0.0022 comes back into play. Most people sell the middle of a range and buy the top of it.