Bitcoin/Argentine Peso Market Overview

• BTCARS fell 28.8% over 24 hours, closing near 163.8M A$ amid heavy selling pressure
• Volatility expanded as price dropped 12.3% from morning highs to midday lows
• Volume spiked at 0.05913 BTC at 18:00 ET before reversing
• RSI hit oversold territory near 160M A$, suggesting potential bounce
• MACD turned negative, confirming bearish momentum

Bitcoin/Argentine Peso (BTCARS) opened at 164.7M A$ on 2025-10-13 at 16:00 ET and closed at 163.79M A$ at 12:00 ET the next day, registering a 24-hour low of 162M A$ and a high of 167.86M A$. The pair declined amid a total volume of 1.84 BTC and a notional turnover of 308.4M A$.

Price experienced a sharp bearish reversal after reaching 167.86M A$ at 20:15 ET, forming a bearish engulfing pattern as it collapsed below key support levels. A 20-period EMA currently sits at 164.3M A$, suggesting the pair has fallen below its recent average trend. The 50-period EMA at 165.4M A$ reinforces the downward bias.

MACD turned negative with a bearish crossover, signaling weakening momentum. RSI dropped below 30 for the first time in over a day, indicating oversold conditions. However, price failed to rebound above 165M A$, which may suggest further downward pressure. Bollinger Bands widened after the breakdown, reflecting increased volatility.

Fibonacci retracement levels highlight potential support at 163.4M A$ (61.8% of the recent 162M–167.86M A$ move) and 164.3M A$ (38.2%). Volume and turnover remained elevated during the sell-off, but diverged during the recovery attempts after 21:00 ET, hinting at fading bullish conviction.

The backtesting hypothesis aligns with the current technical setup. With BTCARS near an RSI oversold threshold, a strategy buying on RSI < 30 could benefit from a potential rebound. The pair has shown signs of exhaustion at key Fibonacci levels, and a bounce from 163.4M A$ could provide early confirmation of a short-term bottom. However, a breakdown below 162M A$ may extend the decline further.