Market Overview for Bubblemaps/Tether (BMTUSDT) - 24-Hour Summary (2025-10-31)

• BMTUSDT traded in a 0.0367–0.0395 range, closing near 0.0393 after a morning dip.
• Morning sell-off saw price break below key support at 0.0375, triggering a 0.0368 low.
• Late afternoon rebound confirmed by bullish divergence in RSI and volume.
• Volatility expanded by 43% as price retested 0.0385–0.039 Fibonacci retracement.
• MACD turned positive by 18:00 ET, hinting at potential short-term upside.

Bubblemaps/Tether (BMTUSDT) opened at 0.0383 on 2025-10-30 12:00 ET, reaching a high of 0.0395 and a low of 0.0368 before closing at 0.0393 on 2025-10-31 12:00 ET. The pair saw a total volume of 15.03 million and a notional turnover of ~$573,000, showing heightened activity during the morning sell-off and late-day recovery.

The 15-minute chart displayed a bearish breakdown from the 0.0375–0.0382 range on 17:45–18:00 ET, followed by a sharp rebound on 20:15–20:45 ET. Price action included a Morning Star reversal on 20:15–20:45 and a Bullish Engulfing pattern on 00:45–01:00 ET. These formations suggest potential multi-hour short-term bullish momentum, especially when confirmed by volume and MACD. Key resistance levels formed at 0.039 and 0.0393, while 0.0385 and 0.038 acted as strong supports.

The 20-period and 50-period moving averages crossed below the price early in the morning, but re-converged into a bullish bias by 18:00 ET. The 200-period moving average remained below the price, indicating a broader medium-term bullish trend. The 15-minute Bollinger Bands expanded after 17:45 ET, with the close near the upper band suggesting increased volatility and a potential breakout.

The RSI bottomed at 28 during the 17:45–18:00 ET trough and crossed above 50 by 20:00 ET, confirming a short-term bullish reversal. MACD turned positive at 18:00 ET and crossed its signal line by 00:00 ET. The volume profile spiked during the morning sell-off and again during the late-day rally, with no significant divergence between price and turnover. A 61.8% Fibonacci retracement from the 0.0368 low reached 0.039, aligning with recent highs.

Backtest Hypothesis

The proposed backtest strategy aims to leverage the Bullish Engulfing candlestick pattern, a strong reversal signal often seen in trending markets like BMTUSDT. Given the recent 15-minute pattern on 2025-10-31 at 00:45 ET, a viable setup would involve entering a long position at the close of the engulfing candle and exiting the next day at close, holding for one full trading day. This approach aligns with the observed technical context—MACD and RSI confirmation, and volume support—suggesting a high probability of continuation after a morning dip. No stop-loss or take-profit rules are to be applied, maintaining a neutral risk profile.

The Fibonacci retracement levels and moving averages suggest that the price is likely to test 0.0395 as the next key resistance within the next 24 hours. If the 0.0395 level holds and the RSI remains above 50, the pair may continue its upward bias. However, a breakdown below 0.039 could signal a retest of the 0.0385 level. Investors should monitor for bearish divergence in the MACD or a volume decline, which could indicate a potential reversal.