Beefy/Tether (BIFIUSDT) Market Overview

• Price surged over 24 hours, peaking at $167.0 before consolidating near $155.5
• High volatility observed with wide Bollinger Band expansion and multiple breakouts
• Volume surged during breakout attempts but declined into the close, signaling possible exhaustion
• RSI overbought in the session’s peak but drifted into neutral territory, suggesting possible near-term correction
• 20-period MA acted as dynamic support during key pullbacks; 50-period MA shows slight bullish tilt

Beefy/Tether (BIFIUSDT) opened at $158.5 at 12:00 ET–1 and closed at $155.5 at 12:00 ET. The pair reached a high of $167.0 and a low of $153.8, with a total volume of 538.391 and turnover of $84,497.67 over 24 hours. Price action showed strong bearish reentry after a volatile peak.

Structure & Formations

Price formed multiple bearish and bullish candlestick patterns over 24 hours, including a hanging man at $164.9 and a morning star reversal at $155.1. Key support levels appear at $155.5 and $153.8, while resistance has shifted to $161.5 and $163.8. A large bearish engulfing pattern formed between 05:30 and 06:00 ET as price dropped from $161.6 to $159.8, signaling potential continuation of downward momentum.

Moving Averages

The 20-period MA on the 15-minute chart provided temporary support around $159.1–160.6, while the 50-period MA trended slightly upward during late hours. Daily moving averages (50/100/200) suggest a longer-term bullish tilt, with the 50-day MA still above the 200-day MA, indicating an uptrend remains intact.

MACD & RSI

MACD lines showed positive divergence during the first half of the session, with a bullish crossover at $164.0. RSI peaked at 76 before retracing to 52, suggesting overbought conditions may have been corrected. Momentum remains mixed—price may test recent lows again if RSI dips below 40.

Bollinger Bands

Volatility surged sharply as price broke out above the upper band between $162.0 and $167.0, followed by a contraction phase as price settled near the lower band by session’s end. This suggests potential exhaustion in both bullish and bearish extremes, with consolidation likely in the near term.

Volume & Turnover

Volume surged during key breakout phases, especially in the early morning (e.g., $163.7 to $165.3 in the 21:15–22:00 ET block), but dropped sharply during the closing hours. Notional turnover followed a similar pattern, with divergences noted during the 06:45–07:45 ET block—price falling while volume remained elevated.

Fibonacci Retracements

Fibonacci levels for the recent 15-minute swing (low of $153.8 to high of $167.0) suggest 61.8% retracement at $160.1 and 38.2% at $159.0. On daily charts, the 61.8% retracement aligns with $160.5, a level where price previously found resistance before breaking down.

Backtest Hypothesis

The MACD golden-cross strategy could offer insights into BIFIUSDT’s potential performance if applied using the correct ticker symbol. However, the current inability to retrieve MACD data for “BIFIUSDT” indicates the need for clarification—whether the symbol is misentered, listed differently, or simply lacking in the historical dataset. Once the correct symbol is confirmed (e.g., “BIFI-USDT” or “BIFI/USDT”) or an alternative is provided, a full backtest of all MACD golden crosses since 2022 can be executed. This would allow for an empirical assessment of the strategy’s viability, including profit/loss distribution and risk-reward ratios.