Market Overview: Bitcoin/Eurite (BTCEURI) – September 19, 2025

• Bitcoin/Eurite opened at $99,664.60 and closed at $98,751.79, declining 0.91% over 24 hours.
• Volatility increased during the 15-minute session, with a high of $100,044.75 and a low of $98,568.98.
• A bearish divergence in RSI and volume suggests weakening bullish momentum.
• Price remains within a key Fibonacci support zone near $98,365.56 and $98,662.70.
• Bollinger Band contraction suggests potential for a breakout or breakdown in the near term.

Bitcoin/Eurite (BTCEURI) opened at $99,664.60 on September 18 at 12:00 ET and closed at $98,751.79 by the same time on September 19, marking a 0.91% decline. The 24-hour high reached $100,044.75 while the low hit $98,568.98. Total volume traded was 8.79 BTC, and notional turnover amounted to approximately $870,460,605. The market experienced a mix of consolidation and aggressive bearish moves, especially in the final 6 hours of the day.

Structure & Formations

The candlestick structure reveals a bearish bias, with several large bearish bodies and tails. Notable formations include a bearish engulfing pattern near $100,000 and a hanging man candle at $99,710. Key support levels appear to be forming around $98,365.56 and $98,662.70, with resistance at $99,310.11 and $99,630.00. A potential breakout or breakdown from these levels may signal the next directional move.

Moving Averages

On the 15-minute chart, the price closed below both the 20-EMA ($99,386.25) and 50-EMA ($99,265.50), indicating a short-term bearish bias. On the daily chart, the 50-EMA stands at $99,530.00, slightly above the 200-EMA ($99,450.00), suggesting a potential for a bullish reversal if price reclaims this level.

MACD & RSI

The MACD histogram has turned negative and is pulling away from the signal line, indicating fading bullish momentum. RSI has entered oversold territory at 30, suggesting potential for a bounce or countertrend rally. However, the divergence between RSI and price action warns of a possible breakdown if bearish pressure continues.

Bollinger Bands

The 20-period Bollinger Bands show a significant contraction in the last 2 hours, with the price hovering near the lower band. This suggests elevated volatility and the potential for a breakout. Price is currently at the lower end of the band, indicating a possible short-term bounce but also a risk of further downside if the support fails.

Volume & Turnover

Volume increased significantly during the last 6 hours, especially in the final 15-minute candle, where a large $985,000 turnover occurred. This volume expansion supports the bearish move, indicating strong selling pressure. The divergence between price and volume in the afternoon suggests that the bearish move is being driven by large institutional participants.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $100,044.75 to $98,568.98, the 61.8% retracement level is at $99,267.34, while the 38.2% level is at $99,673.87. Price has failed to hold above the 38.2% level, suggesting further downward pressure. On the daily chart, the 61.8% retracement of the larger move from $100,044.75 to $98,365.56 is $99,154.00, a potential level to watch for a bounce.

Backtest Hypothesis

A backtesting strategy focused on key Fibonacci retracement levels and RSI divergence could offer valuable insights. For example, a sell signal may be triggered when price breaks below the 61.8% Fibonacci level and RSI shows bearish divergence. In this case, that would correspond to a short entry near $99,154.00. A stop-loss may be placed above the 38.2% level at $99,673.87, with a target near the next major support at $98,365.56. This approach aligns with the recent bearish structure and could be tested on historical 15-minute data to assess its viability.