Market Overview for ZENBTC on 2025-10-05

• Price surged from $0.000072 to $0.000083 in 24 hours amid increasing volume and momentum.
• A bullish breakout was confirmed with a 28.6% rise, supported by strong buying at $0.000081 and above.
• High volatility and expanding Bollinger Bands indicate active position-flipping and potential follow-through.
• RSI crossed 65, signaling overbought conditions, though MACD remains bullish with no divergence.

The Horizen/Bitcoin (ZENBTC) pair opened at $0.000072 on October 4, 2025, and reached a high of $0.000083 before closing at $0.000079 at 12:00 ET on October 5. The price action reflected a sharp bullish breakout, with total trading volume reaching 17,182.81 ZEN and a notional turnover of $1.355 (BTC). The 24-hour move was marked by increasing momentum and heavy accumulation at key levels.

Structure & Formations

Price broke above a key resistance level at $0.000081, forming a bullish breakout pattern. A strong candle on October 4 at 18:30 ET (time 74) confirmed the move with a high of $0.00007746 and close at the same level. Later, a strong bullish engulfing pattern emerged at 19:30 ET, followed by a continuation of gains. Price found initial support at $0.00008113 on October 5 and has remained above this level, suggesting buyers remain in control.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA, forming a golden cross. The 50-period MA is currently at $0.0000776, while the 20-period MA sits at $0.0000805. On the daily timeframe, the 50-day MA is at $0.0000747, and the 200-day MA at $0.0000716. Price is currently above both, suggesting a bullish bias for the short-to-medium term.

MACD & RSI

MACD turned sharply positive, with the histogram showing strong bullish momentum, peaking near 0.0000035. RSI climbed to 65 and remains elevated, indicating overbought conditions. However, no divergence has formed between RSI and price, suggesting the bullish move may continue. If RSI drops below 55, traders may interpret it as a signal for consolidation.

Bollinger Bands

Bollinger Bands have significantly expanded during the breakout, reflecting heightened volatility. Price remains above the 20-period midline, and the upper band is now at $0.0000848. A close above $0.000085 could signal a continuation of the upward trend. If price retests the midline at $0.000080 without breaking it, a pullback may be expected.

Volume & Turnover

Volume surged during the breakout, particularly on the 15-minute chart between 19:30 and 20:00 ET. The largest spike occurred at 19:30 ET, where 2,263.44 ZEN traded with a high of $0.00008246 and close at $0.00008122. Turnover increased in tandem, confirming the strength of the move. Notably, volume remained relatively low after the 20:00 ET spike, suggesting short-term consolidation may follow.

Fibonacci Retracements

Fibonacci levels applied to the recent bullish move from $0.000072 to $0.000083 show key retracement levels at $0.000080 (38.2%), $0.000079 (50%), and $0.000077 (61.8%). Price has so far held above the 50% level at $0.000079. A close below this level could target $0.000077 for the next support. On the daily chart, the 61.8% retracement from the broader 2025 low to current levels sits at $0.000073, which remains untested for now.

Backtest Hypothesis

The backtest strategy described focuses on capturing short-term momentum using a combination of MACD crossovers and Fibonacci retracement levels. A long entry is triggered when the 20-period MA crosses above the 50-period MA, and price is above the 38.2% Fibonacci level. A stop loss is placed below the 61.8% retracement, with a take profit at the upper Bollinger Band. Given the current alignment of these indicators—MACD positive, 20/50 MA crossover, and price above key Fibonacci levels—this strategy appears to be well-positioned for a bullish trade on ZENBTC.