Market Overview: Bitcoin/Hryvnia (BTCUAH) 24-Hour Technical Summary

• Bitcoin/Hryvnia (BTCUAH) opened at 4,918,015 UAH, hit a high of 5,019,999 UAH, a low of 4,887,350 UAH, and closed near 4,998,529 UAH.
• Price dropped sharply during the night before a late-day rebound, forming bearish and bullish reversal patterns.
• Low volume and flat turnover signaled muted interest in large swings, suggesting limited conviction in directional moves.
• RSI dipped below 30 in early hours, signaling oversold conditions, but failed to trigger a strong recovery.
• Bollinger Bands expanded significantly during the selloff, indicating heightened volatility and potential for consolidation.

The 24-hour period for Bitcoin/Hryvnia (BTCUAH) was marked by significant intraday swings, opening at 4,918,015 UAH and reaching a high of 5,019,999 UAH. A sharp selloff brought the price to an intraday low of 4,887,350 UAH, before a late-day rebound closed at 4,998,529 UAH. Total volume traded over the period was 0.05336 BTC, with turnover amounting to ~267.7 million UAH. The price action appears to indicate a tug-of-war between bearish and bullish forces, with no clear directional dominance.

The price action formed a Bearish Abandoned Baby pattern during the early hours of the selloff and a Bullish Piercing pattern in the morning reversal. These suggest possible exhaustion in both directions, though the lack of volume confirmation weakens the signals. On the 15-minute chart, the 20-period and 50-period moving averages crossed into neutral alignment by the end of the session, suggesting a potential shift in short-term bias toward consolidation.

MACD lines displayed a bearish crossover at the start of the session, confirming the initial drop, while RSI dipped into oversold territory below 30. However, the recovery failed to push RSI above 50, indicating limited bullish conviction. Bollinger Bands expanded significantly during the selloff and began to contract as the price approached the upper half of the band by the close. This suggests a potential end to the volatile phase and the start of a consolidation phase.

Fibonacci retracement levels for the key 15-minute swing showed the price finding support at the 61.8% level during the rebound, reinforcing a possible floor for near-term moves. Daily chart levels remain unconfirmed due to lack of data, but the 15-minute chart suggests traders may monitor the 4,998,529 UAH level as a pivot point.

Looking ahead, the market could enter a consolidation phase in the next 24 hours if the price remains between 4,965,600 UAH and 5,019,999 UAH. However, a break below 4,965,600 UAH may invite further bearish momentum, especially if volume rises with the move. Conversely, a confirmed break above 5,019,999 UAH could signal renewed bullish energy. Investors should remain cautious and monitor the RSI and MACD for early signs of exhaustion.

Backtest Hypothesis

To better understand potential trade opportunities in BTCUAH, a backtest using Bullish Engulfing candlestick patterns could offer insight into performance, though the system currently lacks coverage for this pair. If historical data were available, the backtest could evaluate entry points based on the formation of the pattern and test holding periods to gauge profitability. For now, a workaround includes using a more widely tracked pair like BTC/USD or BTC-USDT, or supplying a local BTCUAH OHLC data file for manual calculation of the Bullish Engulfing signals. This would allow for a more accurate assessment of the pattern's efficacy in this market structure.