Ampleforth Governance Token/Bitcoin Market Overview

• Price for FORTHBTC rose 0.38% over 24 hours, forming a bullish consolidation pattern.
• Volume spiked at 19:30–20:00 ET, confirming a key breakout.
• RSI showed moderate momentum, with no overbought or oversold extremes.
• Bollinger Bands contracted during quieter hours, hinting at low volatility.
• Turnover increased in tandem with price, showing buyer participation.

The FORTHBTC pair opened at 2.157e-05 on 2025-09-22 at 12:00 ET, reaching a high of 2.213e-05 and a low of 2.144e-05 before closing at 2.197e-05 on 2025-09-23 at 12:00 ET. Total volume for the 24-hour period was 10,263.19, with total turnover at 2.2998 BTC. Price consolidation followed an initial rally, with volume confirming strength during the breakout.

Structure & Formations

Price action displayed a consolidation pattern between key support at 2.144e-05 and resistance at 2.213e-05. A bullish engulfing pattern formed around 23:30–23:45 ET, followed by a pinocchio candle at 00:15–00:30 ET. A large-bodied candle at 19:30–20:00 ET confirmed the breakout above 2.19e-05.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed around 02:30–03:00 ET, indicating a shift in short-term momentum. The 50-period MA acted as a dynamic support around 2.185e-05, and price remained above both indicators for much of the session, suggesting a potential continuation of the bullish trend.

MACD & RSI

The MACD remained positive throughout most of the day, confirming the bullish bias. RSI stayed within the 45–58 range, with no signs of overbought conditions. A bearish divergence appeared at 04:45–05:00 ET, but it failed to trigger a sustained decline, suggesting strong buyer interest.

Bollinger Bands

Volatility expanded after the breakout at 19:30 ET, with the price moving above the upper band. The bands had previously contracted during the consolidation phase, indicating a potential high-probability breakout scenario. The current price sits just below the upper band, suggesting moderate volatility and a potential retest of the 2.213e-05 resistance.

Volume & Turnover

Volume spiked significantly during the breakout at 19:30–20:00 ET, reaching a high of 708.98 units, with a corresponding increase in turnover. This suggests a strong institutional or coordinated buying effort. Turnover remained in line with price, reinforcing the bullish signal. A divergence was observed at 04:45–05:00 ET when RSI peaked but volume remained muted, signaling a potential short-term reversal or consolidation.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing (2.144e-05 to 2.213e-05), the 61.8% retrace level is around 2.185e-05. Price has tested and bounced off this level on multiple occasions. The 38.2% retrace level at 2.196e-05 has served as resistance, suggesting further consolidation or a possible short-term pullback.

Backtest Hypothesis

A backtest using a breakout strategy—triggered on volume spikes above 500 units and price closing above the 20-period moving average—showed a positive expectancy over a 15-minute time frame in this pair. This suggests that the recent 19:30 ET breakout could have been a high-probability entry point. However, given the current proximity to the upper Bollinger Band and the 61.8% Fibonacci level, a cautious approach is advised, with stop-loss placement below 2.185e-05 to manage risk.