Market Overview for Horizen/Bitcoin (ZENBTC) - 24-Hour Summary as of 2025-10-28

• Price fell from $0.000125 to $0.00011028, ending at $0.00011221 amid strong bearish momentum.
• Volatility spiked as price broke below key support levels, forming bearish engulfing patterns mid-session.
• Turnover surged during early hours of the session as price collapsed 12.6% in 5 hours.
• Oversold RSI conditions emerged by 02:00 ET, but buying interest failed to materialize.
• Bollinger Bands widened as price hit the lower band multiple times, signaling heightened bearish pressure.

The Horizen/Bitcoin (ZENBTC) pair opened at $0.00012277 on 2025-10-27 12:00 ET and reached a high of $0.000125 before falling to a 24-hour low of $0.00011028. It closed at $0.00011221 on 2025-10-28 12:00 ET. The total trading volume for the pair was 6,853.65 ZEN, translating to a notional turnover of $0.765.

Structure and formations revealed a clear bearish bias throughout the session. A bearish engulfing pattern formed after the initial 15-minute candle at 16:15 ET, signaling a reversal from bullish to bearish momentum. This was followed by a breakdown below key intraday support levels near $0.00011914 and $0.00011761, which failed to hold. A series of lower highs and lower lows confirmed the bearish trend. A notable doji appeared at 02:45 ET, suggesting indecision, but it was quickly followed by a continuation of the downtrend.

Moving averages on the 15-minute chart showed a strong bearish alignment, with the 20-period MA well above the 50-period MA and both declining. On the daily chart, the 50-period MA crossed below the 100- and 200-period MAs, reinforcing the bearish thesis. MACD showed a negative crossover, with bearish momentum increasing through the session. RSI hit oversold territory around 02:00 ET, but failed to generate a meaningful rebound, indicating a lack of buying interest.

Bollinger Bands expanded significantly as the price hit the lower band multiple times, confirming volatility expansion and strong bearish pressure. Price remained near the lower band for much of the session, particularly in the early morning hours. A contraction in the bands was noted briefly around 06:00–08:00 ET, but it failed to trigger a meaningful reversal.

Volume and turnover spiked during the early hours of the session as price collapsed from $0.000125 to $0.00011221. The largest single-volume candle occurred at 02:45 ET, with 990.58 ZEN traded as price fell to $0.00011462. This was followed by a high-volume bearish candle at 03:00 ET, with 1,279.34 ZEN traded as price dropped to $0.00011323. These volume spikes confirmed the bearish move rather than signaling a reversal.

Fibonacci retracement levels for the major 15-minute swing from $0.00012277 to $0.00011028 showed the price bottomed near the 61.8% level ($0.00011106), which briefly held at 06:00 ET. On the daily chart, the retracement levels from the recent high of $0.000125 to the low of $0.00011028 indicated a potential near-term target near $0.00010775 (78.6% level).

Backtest Hypothesis: The RSI-based strategy outlined requires an accurate ticker symbol for execution. The ZENBTC pair’s price behavior shows clear overbought and oversold signals, particularly in the early morning hours, which could have triggered sell and buy signals, respectively. If a valid ticker is confirmed, this strategy could be applied to ZENBTC to assess its performance using RSI (14-day) with buy signals at RSI < 30 and sell at RSI > 70.