Horizen/Bitcoin (ZENBTC) 24-Hour Market Overview

• ZENBTC traded in a tight range for most of the day before surging to a 24-hour high near 0.00011662, followed by a sharp pullback.
• A bullish engulfing pattern formed at 0.000111–0.000113, but failed to hold amid increased bearish volume.
• Volatility spiked during the 20:30–21:45 ET rally, while RSI hit overbought territory, followed by bearish divergence.
• Strong bearish volume dominance in the final 4–5 hours pulled ZENBTC to a close near 0.00010958.

Horizen/Bitcoin (ZENBTC) opened at 0.00010927 on 2025-10-13 12:00 ET and closed at 0.00010958 on 2025-10-14 12:00 ET. The pair reached an intraday high of 0.00011766 and a low of 0.00010551. Total volume for the 24-hour period was 18,541.45 ZEN, with a notional turnover of approximately $2.15 million (assuming BTC at $65,000).

The price action displayed a strong midday bullish surge from 0.000111 to 0.00011662, fueled by high-volume buying. However, this momentum dissipated quickly as sellers retook control. A key resistance zone formed between 0.00011395 and 0.00011662, with a bearish reversal observed in the 20:30–21:00 ET hour. The 0.00011111 price level acted as a minor support during the afternoon, but it failed to hold under renewed selling pressure.

Structure & Formations

Key resistance levels are identified at 0.00011395, 0.00011662, and 0.00011766, while immediate support is at 0.00011054 and 0.00010885. A notable bullish engulfing pattern occurred during the 19:30–19:45 ET window, but it was quickly invalidated by the subsequent bearish price action. A doji formed at 0.00011122, signaling indecision among traders at that level.

Moving Averages

The 20- and 50-period 15-minute moving averages were in bullish alignment early in the session, with the 20SMA crossing above the 50SMA for a few hours. However, the 50SMA became bearish by the late evening and pulled below the 20SMA. On the daily chart, the 50DMA and 200DMA are in bearish alignment, suggesting that the broader trend for ZENBTC remains bearish.

MACD & RSI

The MACD line turned negative after 21:00 ET, confirming the shift in momentum to the downside. The histogram displayed bearish divergence in the final 3 hours of the session. RSI reached overbought levels at 74 during the midday rally but fell below 50 by 0.00011662, indicating weakening bullish momentum. A reading of 44 at the close suggests moderate bearish pressure.

Bollinger Bands

Volatility expanded significantly during the 20:30–21:30 ET period, with the price reaching the upper Bollinger Band before retreating sharply. The bands narrowed slightly in the early hours of 2025-10-14, but the price remained in the upper half of the bands until the late afternoon. This suggests that the move above the band was not confirmed by continued strength.

Volume & Turnover

Volume surged during the 20:30–21:00 ET rally, with over 3,542 ZEN traded in a single candle. However, this was followed by a significant drop in volume and a sharp price decline, suggesting possible distribution. The final 4-hour window saw increased bearish volume, especially between 05:30–07:30 ET, when sellers pushed the price below the 0.00010666 level. Notional turnover aligned with price direction for much of the session but diverged during the final 2 hours.

Fibonacci Retracements

Applying Fibonacci retracement to the key 0.00010551–0.00011662 swing, the 61.8% level is at 0.00011185, which acted as a minor resistance during the early hours of 2025-10-14. The 38.2% retracement is at 0.00011057, where price stalled briefly before falling further. On the daily chart, the 61.8% retracement of the broader downtrend remains untested.

Backtest Hypothesis

Given the presence of a strong bullish engulfing pattern between 19:30–19:45 ET and a subsequent bearish divergence in RSI and MACD, a potential backtest strategy could focus on entering short positions after a failed bullish breakout. A confirmed breakdown below 0.00011054 could trigger a stop entry, with initial targets aligned with the 61.8% and 38.2% Fibonacci levels. This approach would require validation using historical occurrences of similar patterns in ZENBTC or other ZEN pairs with more reliable data feeds.