PIVX/Bitcoin Market Overview: PIVXBTC Rallies 11.7% in 24 Hours

• PIVXBTC surged 11.7% over 24 hours, with strong momentum on the long.
• Volatility spiked during early AM ET, with a high of 1.3e-06 and a low of 1.15e-06.
• PIVXBTC traded above key 1.23e-06 resistance, closing near intraday high.
• Volume surged to 198,063, with notional turnover confirming bullish price action.
• RSI and MACD suggest overbought territory, raising risk of consolidation.

Price Action Summary

PIVX/Bitcoin (PIVXBTC) opened on 2025-10-04 at 1.15e-06 and closed on 2025-10-05 at 1.18e-06, after reaching an intraday high of 1.3e-06 and falling to a low of 1.15e-06. Total traded volume over 24 hours was 489,050, with notional turnover reflecting significant buying pressure during the overnight session. Price action suggests a bullish breakout from a consolidation range, supported by increasing volume and momentum.

Structure & Formations

The 15-minute chart shows a strong bullish engulfing pattern around 2345 ET (2025-10-04), as PIVXBTC surged from 1.23e-06 to 1.25e-06. A second bullish breakout occurred at 0000 ET (2025-10-05), confirming 1.25e-06 as a new support-turned-resistance. A potential bearish pinocchio candle at 0700 ET (2025-10-05) may signal a short-term pullback, though the overall trend remains intact. Notable support levels include 1.23e-06, 1.21e-06, and 1.19e-06, while resistance is at 1.28e-06 and 1.3e-06.

Moving Averages

On the 15-minute chart, PIVXBTC closed above both the 20-period (1.22e-06) and 50-period (1.21e-06) moving averages, indicating a strong bullish bias. The 50-period appears to act as a dynamic support, with price bouncing off it twice during the early morning hours. On the daily chart, the 50- and 100-period moving averages are aligned above 1.17e-06, suggesting that the recent breakout has brought PIVXBTC back into a long-term bullish trend.

MACD & RSI

The 15-minute MACD has turned positive and is trending higher, with the signal line closely trailing above zero, indicating strong bullish momentum. RSI has pushed above 65, signaling overbought conditions and a possible short-term correction. However, RSI remains within a healthy range of 50–70, suggesting continued strength. A divergence between RSI and price action at 0700 ET hints at a potential pullback before a continuation of the uptrend.

Bollinger Bands & Volatility

Volatility expanded significantly overnight, with PIVXBTC trading near the upper Bollinger Band between 2345 ET and 0100 ET. Price has since retracted closer to the 20-period SMA, settling near the midline. This suggests that the initial surge may have overextended and could be followed by a consolidation phase. However, given the strong volume confirmation, the breakout into new highs appears valid.

Volume & Turnover

The most significant volume spike occurred at 0500 ET (2025-10-05), with 32,408 units traded and notional turnover confirming the price surge. Another major volume cluster appears at 0315 ET, as price pushed from 1.27e-06 to 1.3e-06. No notable divergence between price and volume was observed, suggesting that the move remains supported by buyers. A drop in turnover after 0800 ET may signal a temporary pause in momentum.

Fibonacci Retracements

Applying Fibonacci retracement to the recent swing from 1.15e-06 to 1.3e-06, the 38.2% retracement level is at 1.23e-06 and the 61.8% at 1.21e-06. PIVXBTC has now tested the 38.2% level and pushed above it, suggesting the next target is the 78.6% at 1.28e-06. On the daily chart, the 1.17e-06 level coincides with the 50% retracement of a broader bear-bull trend and appears to be a key pivot for the near term.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when PIVXBTC closes above the 20-period moving average on the 15-minute chart, with a stop-loss placed below the 1.21e-06 support level. A take-profit target could be set at the 38.2% Fibonacci retracement at 1.23e-06 and later extended to 1.26e-06. Given the recent momentum and volume confirmation, this approach may offer favorable risk-reward during an upward trend. However, caution is warranted due to overbought RSI levels, suggesting a possible short-term pullback.