Bubblemaps/Tether Market Overview

• Price fell sharply to 0.0628 from 0.0745, closing near the session low.
• High volatility and volume surged in the early hours, suggesting liquidation pressure.
• RSI dropped into oversold territory, hinting at potential near-term reversal.
• Bollinger Bands widened as price diverged from the 20-period MA.
• Fibonacci retracement at 0.0640 may act as a near-term psychological level.

The BMTUSDT pair opened at 0.0740 on 2025-09-21 at 12:00 ET, reached a high of 0.0747, and closed at 0.0628 by 12:00 ET on 2025-09-22. Total volume across the 24-hour window amounted to approximately 127,409,649.5 units, with a notional turnover of roughly $9,561,576. This sharp correction reflects bearish dominance and potential exhaustion in the short term.

Structure & Formations

Price carved a bearish continuation pattern through a series of lower highs and lower lows from 0.0745 to 0.0628. A 15-minute bearish engulfing pattern appeared at 0.0740–0.0736 on 2025-09-21 at 18:15 ET, signaling a short-term bearish shift. A long-legged doji formed at 0.0642–0.0644 on 2025-09-22 at 04:15 ET, hinting at indecision after the initial selloff. Key support levels include 0.0628 (current close), 0.0625, and 0.0619, with 0.0730 acting as immediate resistance.

Moving Averages

On the 15-minute chart, price closed below both the 20- and 50-period moving averages, confirming bearish momentum. The 50-period MA is at 0.0701, while the 20-period MA is at 0.0684. On the daily chart, price remains below the 50, 100, and 200-period moving averages, with the 50-day MA at 0.0723. This confirms a broader downtrend.

MACD & RSI

The MACD line has crossed below the signal line, reinforcing bearish momentum. RSI dropped to 28, entering oversold territory, suggesting a potential bounce around 0.0635–0.0640. However, divergence remains weak—RSI hasn’t formed a strong bullish signal despite price nearing support. Momentum appears to be slowing but hasn’t reversed decisively.

Bollinger Bands

Price is now trading near the lower Bollinger Band, with a 15-minute 20-period width of 0.0018, suggesting moderate volatility. A sharp contraction occurred from 0.0645 to 0.0628, followed by a volatility expansion as buyers and sellers reentered. A break above the upper band at 0.0642 could trigger a retest of 0.0645–0.0647.

Volume & Turnover

Volume spiked to 9,975,210.0 units at 00:45 ET as price fell below 0.0702, confirming aggressive liquidation. Subsequent volume has remained elevated at 2.5–5 million units per 15-minute interval, but notional turnover has not surged proportionally, indicating declining conviction in the move lower. A divergence between volume and price could hint at a near-term reversal.

Fibonacci Retracements

Key Fibonacci levels from the 0.0745 peak to 0.0628 low include 0.0710 (38.2%) and 0.0675 (61.8%). Price currently trades below both, with 0.0640 acting as a psychological level. A bounce from 0.0625–0.0630 could test the 0.0640–0.0642 zone, which is aligned with the 61.8% retracement and recent consolidation.

Backtest Hypothesis

Applying a backtesting strategy based on a bearish engulfing pattern, where a candle closes below a prior higher bar by at least 100 pips and volume exceeds 200,000 units, would have captured the selloff from 0.0740 to 0.0736. A follow-through break below 0.0730 would confirm the pattern, with a stop-loss set above 0.0742. Given the current price near 0.0628, a trailing stop could now be placed at 0.0640 to lock in gains while allowing room for a potential bounce.