Market Overview for Bitcoin/Eurite (BTCEURI)

• Price action shows a sharp rally in overnight hours, with a 2.3% increase over the 24-hour period.
• Volatility expanded in the early morning with a 385-point range between 96810.0 and 97184.0.
• RSI reached overbought levels twice, suggesting potential pullback risks after extended rallies.
• Notional turnover was concentrated in three spikes, with the largest occurring at 01:30 ET ($1.69M).
• A bullish engulfing pattern formed at 00:15 ET, reinforcing the upward bias but with a potential short-term consolidation.

Price and Volume Summary

Bitcoin/Eurite (BTCEURI) opened at 97121.17 on 2025-09-10 at 12:00 ET and closed at 97387.63 on 2025-09-11 at 12:00 ET, reaching a high of 97959.47 and a low of 96810.0 over the 24-hour period. The total volume traded was 9.12197 BTC, with a notional turnover of EUR 894,955. The asset showed a clear upward trend in the overnight session before consolidating during the morning.

Structure & Formations

The 24-hour candlestick pattern revealed multiple key support and resistance levels. A strong support level was observed at 97023.0 and 96941.16, which were tested and held during the morning hours. Conversely, resistance levels at 97310.0, 97405.18, and 97574.0 were repeatedly approached and broken, especially between 03:00 and 05:30 ET. A bullish engulfing pattern formed at 00:15 ET, indicating a shift in sentiment toward the bulls. Additionally, a doji appeared at 02:30 ET, signaling indecision and a potential pause in the upward momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in a bullish crossover at 01:45 ET, confirming the short-term upward bias. The daily moving averages (50, 100, and 200) were all below the current price, reinforcing a long-term bullish trend. The price remains above all three daily moving averages, suggesting a healthy continuation of the upward trend.

MACD and RSI

The MACD line crossed above the signal line at 01:30 ET, signaling a bullish momentum shift. The histogram expanded during the morning rally before flattening out as the price consolidated. The RSI indicator reached 75+ levels twice, indicating overbought conditions, most notably at 03:45 and 06:45 ET. These levels suggest potential short-term pullbacks may be in order, though the overall upward trend appears intact.

Bollinger Bands

Volatility expanded sharply between 03:00 and 05:30 ET, with the Bollinger Bands widening to a range of approximately 600 points. The price moved above the upper band at 04:00 and 05:30 ET, reinforcing the strength of the rally. During the consolidation phase, the price retreated into the middle band, indicating a temporary pause in the momentum.

Volume and Turnover

Volume and turnover increased significantly during the key price moves. The largest volume spike occurred at 01:30 ET with a turnover of EUR 1.69M, coinciding with a sharp upward move from 97766.92 to 97847.08. This confirms strong buying pressure during that period. In contrast, volume dropped during the consolidation, which is typical for a healthy consolidation phase. No notable price-volume divergences were observed, indicating that the rally was well-supported.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent swing from 96810.0 to 97959.47, the key levels of 38.2% at 97312.52 and 61.8% at 97601.82 were both tested during the consolidation phase. The price found support near the 38.2% level and bounced back up, suggesting a strong level of institutional buying at that level. The 61.8% level may act as a potential target or a temporary ceiling during the next leg up.

Backtest Hypothesis

For a potential backtesting strategy, one could consider a bullish breakout system triggered by a 20/50 EMA crossover on the 15-minute chart, with a stop-loss placed below the most recent swing low. A trailing stop could be used once the price clears the 38.2% Fibonacci level. This aligns with the observed behavior in the data, where the EMA crossover at 01:45 ET was followed by a strong rally. The RSI overbought levels also provided natural exit points. A strategy that combines these indicators could be tested over similar price action in past cycles for consistency and risk-adjusted returns.