Market Overview for LayerZero/Bitcoin (ZROBTC)

• Price rose 0.62% over 24 hours, forming a bullish trend with a key breakout above 1.694e-05.
• High volatility observed in early hours, with price swinging 0.53% within a 3-hour window.
• Volume surged to a 24-hour peak of 6,252.5 at 01:00 ET, coinciding with a price dip to 1.709e-05.
• RSI hit 62 at 05:15 ET, indicating strong momentum; no overbought/oversold signals observed.
• Bollinger Bands showed a narrow contraction in mid-session, followed by an expansion and price retest of the upper band.

The LayerZero/Bitcoin (ZROBTC) pair opened at 1.64e-05 on 2025-09-17 at 12:00 ET and closed at 1.724e-05 at 12:00 ET on 2025-09-18, reaching a high of 1.735e-05 and a low of 1.631e-05. Total volume traded was 34,516.28, while notional turnover amounted to approximately 0.5994 BTC.

The price action revealed a clear bullish bias after 17:15 ET on 2025-09-17, where a strong 15-minute candle with a 0.31% move confirmed buying pressure. The pair then oscillated within a tightening Bollinger Band range until a breakout in the early morning. A key support level emerged around 1.694e-05, which was tested and rejected multiple times before the price pushed through.

The 15-minute moving averages showed a bullish crossover at 17:45 ET, with the 20SMA rising above the 50SMA. This was followed by a continuation of the uptrend until early morning, when volume and price began to diverge slightly during a pullback. However, the RSI remained above 50 throughout the session, indicating that the bullish momentum remained intact.

Bollinger Bands tightened between 00:15 ET and 01:00 ET before expanding sharply as price tested the upper band, forming a potential consolidation pattern. Fibonacci retracement levels aligned with key 15-minute swings showed the 61.8% level at 1.708e-05 acting as a strong support. Price action confirmed this level as a pivot point during the 05:30 ET hour.

The MACD remained in positive territory for most of the session, with the line peaking at 1.04e-06 during the 23:15 ET candle, suggesting strong short-term bullish momentum. Divergences were not observed between MACD and price. Volume spikes were most notable around 01:00 ET and 22:30 ET, with the former coinciding with a pullback, while the latter marked a consolidation and test of the upper Bollinger Band.

Backtest Hypothesis

Given the observed price behavior and technical conditions, a potential backtesting strategy could involve entering long positions on a bullish 20/50 SMA crossover with confirmation from a MACD histogram expansion above zero. A stop-loss could be placed below the 1.694e-05 support level, with a target at the 1.735e-05 high. The strategy could also incorporate volume filters, favoring entries during periods of increasing volume and momentum (RSI above 55). This approach might capture the continuation of an uptrend, provided the 1.694e-05 support holds firm.