Market Overview: Bitcoin/Eurite (BTCEURI) – October 28, 2025

• Price opened at $98,831.55 and traded in a $985 range, closing at $98,350.18.
• A bearish reversal pattern formed after an intraday high of $99,496.19.
• Volatility spiked during the 14:30–15:00 ET window, with 1.94% of 24-hour volume.
• RSI signaled overbought conditions early before a sharp pullback.
• Bollinger Bands reflected a moderate volatility expansion during the close.

Bitcoin/Eurite (BTCEURI) opened at $98,831.55 at 12:00 ET−1 and traded within a $985 range, reaching an intraday high of $99,496.19 and a low of $97,363.58, before closing at $98,350.18 at 12:00 ET. Total volume for the 24-hour period was 13.95 BTC, with notional turnover of approximately $1.37 billion.

Structure & Formation suggest a consolidation phase after a sharp bearish correction in the final hours. A key support level appears at around $98,250.60, where the price held multiple times. A bearish engulfing pattern is visible near the $99,496.19 high, signaling a possible short-term reversal. Earlier, a bullish morning star pattern formed near $98,030.0, which was later invalidated by selling pressure.

Moving Averages indicate a bearish crossover on the 15-minute chart, with the 20-period MA below the 50-period MA around $98,600–$98,700. On the daily timeframe, the 50-day MA sits above the 100-day MA, suggesting a mixed short- to medium-term outlook. The 200-day MA is likely above recent closes, pointing to a longer-term bullish trend but with potential short-term profit-taking.

MACD and RSI both showed signs of bearish momentum. The MACD crossed below the signal line in the final hours, signaling a weakening bullish trend. RSI peaked above 70 early in the session and dipped to mid-50s by the close, suggesting a possible oversold condition. Volatility, as measured by Bollinger Bands, showed a moderate expansion, with the price ending near the lower band, hinting at a potential bounce.

Volume and Turnover were highest during the 14:30–15:00 ET period, with a 1.94% spike in volume. This coincided with the price falling from $99,496.19 to $98,482.98. The divergence between rising volume and falling price suggests strong bearish pressure. Turnover also showed a spike during the early morning hours, indicating significant buying interest that was later invalidated by selling.

Fibonacci Retracements applied to the $97,363.58–$99,496.19 swing show key levels at 61.8% (~$98,550) and 38.2% (~$98,250). The price appears to have found support near $98,250.60, which may act as a pivot for further analysis. Daily retracements from a larger weekly swing suggest a possible continuation of the current bearish trend toward $97,000.

Backtest Hypothesis

For an effective back-test, this strategy should be applied to the BTCEURI pair, using the next-day open price to calculate returns. By identifying every Doji-Star pattern since January 1, 2022, we can evaluate how the market has historically responded to reversal signals. Applying a three-day maximum holding period, we could assess the viability of a short-term countertrend trading strategy. This approach would help determine whether a bearish reversal pattern near $99,496.19 is likely to be confirmed over the next 72 hours.