Market Overview for BOOK OF MEME/Tether (BOMEUSDT) – 2025-10-13

• BOOK OF MEME/Tether (BOMEUSDT) traded in a 0.001143–0.001229 range, ending near 0.00120 with a strong rebound after 16:00 ET.
• Momentum shifted from bearish to bullish around 19:30 ET as price broke above key resistance at 0.00120.
• Volume spiked to 517M at 08:00 ET, signaling a large sell-off, while turnover later confirmed a bullish reversal.
• RSI overbought levels and Bollinger Band expansion suggest heightened volatility and a possible consolidation phase.

At 12:00 ET on October 12, BOOK OF MEME/Tether (BOMEUSDT) opened at 0.001148 and traded as low as 0.001143 before rebounding to a high of 0.001229 and closing at 0.00120 at 12:00 ET. Total volume over the 24-hour period was 517,824,048 units, with a turnover of approximately $618,000 (using average price of 0.001208), indicating moderate to high liquidity and interest during the session.

Structure and formations reveal a strong support level forming at 0.001185–0.001190, where price frequently tested and rebounded. A notable Bullish Engulfing pattern emerged around 19:30 ET, confirming a shift in sentiment from bearish to bullish. Resistance levels at 0.00120 and 0.00121 were tested multiple times, with the first showing some stickiness and the second indicating potential consolidation after the sharp rebound.

Moving averages on the 15-minute chart show 20-period and 50-period lines converging around the 0.001185 level, suggesting price is finding equilibrium after the recent volatility. On the daily chart, the 50-period line is slightly above 0.001190, while the 200-period line remains below, indicating a possible short-term bullish tilt amid long-term neutrality.

RSI on the 15-minute chart reached overbought territory (~65–70) after the 08:00 ET sell-off and again in the early morning hours, signaling short-term exhaustion. However, the rapid recovery and bullish reversal have pushed RSI back toward neutral levels, suggesting potential for further consolidation before another move. MACD showed a bearish divergence earlier in the session but reversed into bullish territory after the 20:00 ET rebound. Bollinger Bands expanded significantly during the 08:00 ET sell-off and have since narrowed, indicating a potential pause in volatility.

Price action and volume showed a clear divergence in the 08:00 ET hour, where price dropped sharply but volume surged to 517M, suggesting strong bearish participation. This was followed by a significant volume spike at 21:30 ET (21.3M) as price bounced off 0.001190, confirming the reversal. Turnover also increased in the early morning hours, aligning with the break above 0.00120 and signaling strong buyer interest.

Fibonacci retracement levels applied to the key 15-minute swing from 0.001143 to 0.001229 identified 0.001185 (38.2%) and 0.00120 (61.8%) as critical levels. The 61.8% level has served as both a resistance and support, with price finding buyers at that level and sellers just above it. Daily Fibonacci levels also highlight 0.00122 (61.8%) as a potential near-term target, though it may also act as a consolidation zone.

Backtest Hypothesis

Given the identified 15-minute Bullish Engulfing pattern and the key Fibonacci retracements, a backtesting strategy could be developed to evaluate the viability of this setup. A precise implementation would involve generating an explicit list of “close” signals based on whether price exceeded 0.00120 after each bullish pattern entry or hit a 5% stop-loss. This would allow the backtest to account for varying trade outcomes rather than using a generic take-profit percentage. While more complex, this method ensures the strategy reflects the exact conditions observed in the 24-hour data, especially around the 19:30 ET and 03:30 ET entries.