Beefy/Tether (BIFIUSDT) Market Overview: Bearish Momentum and Key Support Tested

• BIFIUSDT declines 4.8% over 24 hours, closing near a multi-hour low.
• Volume surges during late-night hours, confirming bearish momentum.
• RSI approaches oversold territory, suggesting potential near-term bounce.
• Price tests key support at 172.4–172.9, with mixed candlestick signals.
• Bollinger Bands show low volatility early, then expand during sharp drop.

The Beefy/Tether pair (BIFIUSDT) opened at $183.1 on 2025-09-21 at 12:00 ET and closed at $172.9 on 2025-09-22 at the same time. The 24-hour session saw a low of $171.3 and a high of $183.7, representing a bearish trend. Total volume was 933.125, with notional turnover reflecting the prolonged price decline, particularly in the latter half of the session.

On the 15-minute chart, the pair formed several bearish candlestick patterns, including a dark cloud cover and a key bearish engulfing pattern during the drop to 172.9. A doji appeared around 172.8–173.0, suggesting potential consolidation or reversal. Key support levels are forming around 172.4–172.9, with 173.6 acting as a short-term resistance. The 20-period moving average (15-min) dipped below the 50-period line, confirming a bearish bias. On the daily chart, the 50-period MA has crossed below the 200-period MA, reinforcing the downtrend.

The RSI has fallen to 31, hinting at oversold conditions, but without a strong bounce, this could be a false signal. MACD lines crossed below the signal line, with the histogram showing a deepening bearish divergence. Bollinger Bands showed a tight consolidation phase in the early morning before expanding during the sharp selloff, indicating increased volatility and fear among traders. Price has remained below the 20-period band for most of the session, suggesting ongoing bearish pressure.

Volume spiked significantly between 00:30–01:30 ET on 2025-09-22 as the price dropped from $180.5 to $175.0, aligning with a large turnover increase. However, volume has since declined as the pair approached 172.9, suggesting fading momentum. Fibonacci retracement levels from the recent high at $183.7 to the low at $171.3 show 38.2% at $177.5 and 61.8% at $174.5. The current price near 172.9 is below both, indicating a possible test of the 50% retracement level if buyers step in.

A potential bounce off the 172.4–172.9 support zone could test the 174.0–175.0 area, but a break below 171.3 may open the door to further declines. Traders should monitor volume and RSI divergence for confirmation. A risk to this outlook includes a sudden reversal driven by positive news or broader market rotation, but bearish momentum remains dominant.

Backtest Hypothesis

Given the bearish pattern and oversold RSI, a backtesting strategy could be built around shorting near the 172.4–172.9 support level, with a stop-loss above the 174.0 resistance and a target at the 171.3 swing low. A trailing stop could be added to lock in gains as price moves lower. This approach aligns with the observed MACD divergence and strong volume during the decline. However, due to the mixed signals from the doji and low volume near support, the strategy should include a tight stop and only be activated with confirmation of a break below 172.4.