Beefy/Tether Market Overview for 2025-10-30

• Price dropped sharply from $139.9 to $134.0, driven by a large bearish candle on 2025-10-29 18:45 ET.
• Volatility expanded as BIFIUSDT moved between $133.0 and $148.1, with over $136 million in turnover.
• A long upper shadow on the 24-hour candle suggests rejection near $148.1 and potential bearish bias.
• Volume spiked on the downward leg, confirming bearish momentum; RSI and MACD data unavailable.
• Price appears to be testing a new multi-day support level near $133.0–$134.0.

24-Hour Price Action Summary

At 12:00 ET on 2025-10-30, Beefy/Tether (BIFIUSDT) traded at $131.6, down from an open of $137.2 the prior day. The pair reached a high of $148.1 and a low of $133.0 during the 24-hour period. Total volume amounted to approximately 934.6 units of Beefy, while notional turnover reached about $136.6 million. The price action suggests bearish pressure, with a strong bearish candle on 2025-10-29 18:45 ET printing a $136.3 open and a $134.9 close.

Structure & Formations

Price formation on the 15-minute chart shows a series of bearish engulfing patterns during the late ET hours on 2025-10-29, particularly between 18:45 and 20:00 ET. These candles confirmed the breakdown of a prior consolidation range and pushed the price toward a new multi-day support level near $134.0–$133.0. A long bearish candle with a high of $136.7 and a close of $134.9 on the same hour marked a key inflection point. Notably, a bullish harami pattern emerged near $134.0–$134.7 early on the 30th, but it was quickly negated by further selling pressure.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are aligned in a bearish bias, with the short-term average dipping below the longer-term average, reinforcing downward momentum. On the daily chart, the 50-period SMA appears to be acting as a dynamic resistance level near $140.0, with the 200-period SMA potentially forming a longer-term ceiling further above. If prices remain below the 50-day SMA, it could indicate a continuation of the bearish trend.

Bollinger Bands and Volatility

Bollinger Bands have widened significantly during the past 24 hours, particularly between 18:45 and 20:00 ET on the 29th, reflecting increased volatility. Price has traded near the lower band during the past few hours, suggesting oversold conditions. A contraction in band width may signal a potential consolidation phase ahead, although the current wide band suggests ongoing uncertainty in market direction. The 24-hour range of $148.1 to $133.0 shows a 10.8% swing, highlighting a high-volatility environment.

Fibonacci Retracements and Support/Resistance

Applying Fibonacci retracement levels to the 24-hour range, the key levels include a 38.2% retracement at $138.3 and a 61.8% retracement at $144.9. The 78.6% retracement lies near $146.6, while the 23.6% retracement is at $136.5. These levels appear to be testing areas of interest for the next few sessions. Price appears to have found some support near the 38.2% and 23.6% levels before breaking down further. A rebound above the 61.8% retracement could indicate short-term bullish momentum.

Backtest Hypothesis

To build a robust backtesting hypothesis for BIFIUSDT, we would typically rely on the MACD indicator to identify Golden and Death Cross trade signals. However, the current system is unable to access the MACD series for this pair, likely due to the symbol being either incorrect, unsupported, or under a different naming convention. To resolve this, you can either:
(1) Verify and adjust the symbol to a supported format (e.g., BIFI-USDT, BIFIUSDT-PERP), or
(2) Switch to a more widely covered pair such as BTCUSDT or ETHUSDT where MACD data is readily available.

If you can confirm or provide a corrected ticker symbol, the backtest can be completed promptly, allowing us to generate precise Golden/Death Cross-based signals for future analysis. Alternatively, if you have an external dataset containing MACD crossover events, we can upload that to proceed.