Market Overview for Bitcoin/Dai (BTCDAI) – November 1, 2025

• Bitcoin/Dai opened at 110,297.94, surged to 110,379.51, then declined to a 24-hour low of 108,791.19 before closing near 110,042.74
• A bearish reversal pattern emerged mid-day, confirmed by a sharp selloff and weak recovery attempts
• Volatility spiked after 17:00 ET, with a high-low range of 1,160 DAI, but volume remained moderate
• RSI entered oversold territory twice, but failed to generate sustainable bullish momentum
• The 15-minute Bollinger Bands showed a recent expansion, signaling potential for continued price swings

24-Hour Summary

At 12:00 ET on November 1, 2025, Bitcoin/Dai opened at 110,297.94 DAI. Over the next 24 hours, the price surged to an intraday high of 110,379.51 before dropping to a low of 108,791.19, ultimately closing at 110,042.74. Total traded volume for the period was 1.997 BTC, with a notional turnover of 220,457 DAI. The price action reflects a volatile session marked by bearish pressure and failed rebounds.

Structure & Formations

The 15-minute chart showed a strong bearish reversal pattern during the afternoon hours (17:00–18:00 ET), with a large bearish engulfing candle confirming the downturn. A doji appeared near the 109,000 level later in the session, suggesting short-term indecision. Key support levels emerged around 109,000 and 108,750, while resistance was tested multiple times near 110,200 and 110,400. A 61.8% Fibonacci retracement from the 12-hour high to the 15-hour low aligned with the doji’s high, hinting at potential reversal strength.

Moving Averages and Bollinger Bands

On the 15-minute chart, the price broke below the 50-period moving average during the sharp selloff, confirming the bearish momentum. Bollinger Bands expanded significantly during the afternoon, suggesting heightened volatility. The price then retracted back into the lower band, indicating possible oversold conditions. Daily moving averages (50, 100, 200) remain untested as the current session has not closed yet.

Momentum and RSI

The RSI indicator dipped into oversold territory twice during the session, at 108,900 and 109,000, but failed to trigger strong rebounds. A bearish divergence formed between the RSI and price action during the late recovery attempt. MACD crossed below the signal line around 17:00 ET, reinforcing the bearish bias. While the MACD histogram showed negative expansion during the selloff, it flattened out in the final hours, indicating waning momentum.

Volume and Turnover

Volume spiked during the sharp selloff from 109,686.95 to 108,791.19, with over 0.085 BTC traded in that interval. However, volume remained relatively moderate in the subsequent rebound, suggesting weak conviction behind the buyers. The largest single candle in terms of notional turnover occurred at 109,626.04, with a total of 0.04472 BTC traded. Notably, no strong divergences between price and volume were observed, implying that the move down was broadly supported.

Forward-Looking View and Risk Caution

The next 24 hours could see a test of the 109,000 support level, with a potential bounce if buyers re-enter. However, a break below 108,750 could trigger further downside. Traders should remain cautious of a potential bear trap forming if a recovery lacks follow-through volume.

Backtest Hypothesis

Given the RSI’s multiple dips into oversold territory and the bearish divergence observed, a simple RSI-based strategy could be considered for this pair. The RSI at 14-period appears to be a reasonable starting point for identifying potential reversal opportunities. If the system uses a 3-day holding period for all entries, the recent price action suggests that a trade initiated on the first RSI dip would have been stopped out quickly, while the second dip might have yielded a modest gain. The low volume on the subsequent recovery, however, suggests limited liquidity for exits, which could complicate execution. The Bollinger Band expansion also implies that volatility remains a factor, which may increase the risk of false signals in the short term.