Market Overview for Bitcoin Cash/Yen (BCHJPY) - 2025-10-27

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• BCHJPY surged 7.8% over 24 hours, closing at ¥85,661 after breaking through ¥85,000.
• Momentum intensified midday, with volume spiking during ¥85,000–¥86,500 rally.
• Bullish engulfing and hammer patterns emerged around ¥85,000–¥85,500 support.
• RSI hit overbought territory, while MACD diverged with price near ¥86,000.
• Volatility expanded, with Bollinger Bands widening sharply post-¥85,000 breakout.

The 24-hour period for Bitcoin Cash/Yen (BCHJPY) began at ¥83,623 on October 26 at 12:00 ET and closed at ¥85,661 on October 27 at 12:00 ET. The pair surged to a high of ¥87,755 and dropped to a low of ¥85,011. Total traded volume reached 42.75 units, with notional turnover totaling ¥3,661,743. The rally, fueled by strong volume spikes between ¥85,000–¥86,500, suggests growing conviction in the upward move.

Structure & Formations

Price carved a multi-wave rally starting from ¥83,540, breaking through ¥85,000 and ¥86,000 with bullish engulfing patterns. A bullish hammer formed at ¥85,011, reinforcing the psychological support level. A strong rejection at ¥87,755 marked a bearish spinning top, indicating potential exhaustion. The 24-hour chart shows a higher high and higher lows, with ¥85,000 emerging as the key support-turned-resistance.

Moving Averages & Momentum

On the 15-minute chart, the 20-period and 50-period moving averages crossed upwards, reinforcing the bullish bias. The daily chart shows the 50-period MA at ¥84,900, with price above the 200-period MA at ¥83,200—indicating a strong uptrend. RSI climbed to 72–75 (overbought), signaling potential for consolidation or pullback. MACD showed a positive divergence from ¥86,000 onward, hinting at waning momentum.

Volatility & Fibonacci Levels

Bollinger Bands expanded sharply after the ¥85,000 breakout, with price testing the upper band at ¥87,755 and retreating. A contraction phase began around ¥85,300–¥85,600, suggesting a period of consolidation ahead. On the 15-minute swing, Fibonacci retracement levels at 38.2% (¥86,450) and 61.8% (¥85,300) acted as pivot points during pullbacks.

Backtest Hypothesis

Given the overbought RSI and bearish divergence in MACD, a potential short-term pullback strategy could involve entering short positions at ¥86,400–¥86,600 with a stop above ¥86,900 and a target at ¥85,500–¥85,700. This aligns with the Fibonacci 61.8% retracement level and the post-¥87,755 rejection. A backtest would need to evaluate the probability of such a pullback within a 4–8-hour window following the sharp breakout.