Bitcoin/Argentine Peso Market Overview (BTCARS): 24-Hour Analysis for 2025-10-08

• Price surged from 185.5M to 188.1M on 15-minute chart, with a consolidation near 188.4M in the final hours.
• High volatility seen with Bollinger Band expansion, indicating potential for further directional move.
• Volume increased significantly during the 20–21:00 ET session, suggesting strong buying interest.
• MACD turned positive, with RSI hovering near 60, showing momentum but not yet overbought.
• A bullish engulfing pattern formed near 186.6M, aligning with a key 61.8% Fib level.

The Bitcoin/Argentine Peso pair (BTCARS) opened at 185.559247 at 12:00 ET–1 and surged to a high of 188.100000 before consolidating at 187.722365 at 12:00 ET. Total trading volume reached 0.7188 BTC with a notional turnover of approximately 133.79 billion ARS, reflecting strong market engagement during the session.

Structure and formations on the 15-minute chart show a key bullish engulfing pattern forming near 186.6M, suggesting a reversal from prior bearish momentum. The price appears to have found initial support at 185.5M and pushed past 186.8M with a clear 61.8% Fibonacci retracement level at 186.8M acting as a psychological pivot. A potential bearish divergence was observed near 186.2M, where the RSI failed to confirm a lower low, but this was quickly refuted by a strong rally into the close.

Moving averages on the 15-minute chart indicate a positive crossover as the 20-period MA crossed above the 50-period line during the 20:15–21:00 ET window. This aligns with the bullish bias in short-term momentum. On the daily chart, Bitcoin remains above the 200-period MA, indicating a longer-term bullish trend despite high volatility and frequent corrections. The 50-period MA stands at 187.2M, acting as a dynamic support line in the near term.

MACD for BTCARS turned positive during the 20:15–21:15 ET period, with the histogram expanding as bullish momentum increased. RSI has stabilized in the mid-60s, indicating that the market is not yet overbought. Volatility has been highly variable, as evidenced by a recent Bollinger Band expansion. Price is currently positioned near the upper band at 188.4M, suggesting a potential pullback or consolidation may be imminent.

Volume and notional turnover spiked sharply during the 20:15–21:15 ET window, coinciding with a breakout from a key resistance zone near 186.6M. The surge in volume confirmed the price action and reinforced the validity of the bullish breakout. A divergence between price and volume near 185.7M was noted but did not result in a sustained reversal, as buying pressure quickly resumed.

Fibonacci retracements for the 15-minute chart suggest key levels at 186.8M (61.8%) and 186.3M (38.2%), which have shown repeated resistance and support behavior. These levels may act as important psychological barriers for the next 24 hours. On the daily chart, a 61.8% retracement level at 188.1M is currently being tested and could provide a critical pivot for continuation or reversal.

Backtest Hypothesis
The described backtesting strategy relies on a bullish breakout confirmation system, where a trade is triggered when price closes above a 15-minute Fibonacci 61.8% retracement level and MACD turns positive. This aligns with the current technical picture, as BTCARS closed above 186.6M and MACD turned bullish during the session. A stop-loss could be placed just below the 185.5M support level, with a target near the upper Bollinger Band at 188.4M. Given the high volume and recent bullish signals, this setup may offer a high probability trade opportunity for the next 24 hours.